a street vendor sells toys at an underground passage in istanbul turkey may 31 2019 reutersmurad sezer istanbul aug 24 reuters  turkeys economy expanded 75 annually in the second quarter of the year a reuters poll showed on wednesday while the fullyear growth forecast stood at 4 pointing a drop in economic activity in the second half of the year reflecting weaker demand conditions the economy expanded 73 yearonyear in the first quarter driven by strong performances strong exports and robust domestic demand it is expected to have kept up the strong performance in the second quarter president tayyip erdogans new economic programme has prioritised growth and exports while aiming to tackle inflation by shoring up turkeys chronic current account deficit instead of rate hikes an easing cycle under erdogans programme led the lira to end last year down 44 against the dollar and shed another 27 so far this year sending inflation to a 24year high of nearly 80 in july while the rate cuts aimed at stimulating the economy analysts predict that activity could cool in the second half of the year due to a downward trend in demand and an expected economic slowdown in turkeys largest trade partners the median estimate of 13 economists in a reuters poll for annual gross domestic product gdp growth trgdpqeci in the second quarter stood at 75 within a range of 5 and 87 the fullyear growth was lower with the median estimate of 18 economists standing at 405 and forecasts ranging between 33 and 5 turkeys central bank cited signs of a slowdown in the third quarter last week when it shocked markets by cutting its policy rate trinteci by 100 basis points to 13 it is important that financial conditions remain supportive to preserve the growth momentum in industrial production and the positive trend in employment the bank said finance minister nureddin nebati said on tuesday that he expects growth in the second quarter to come in higher than the 73 recorded in the first quarter turkeys economy was one of few to narrowly expand in 2020 thanks largely to cheap loans it bounced back in 2021 expanding 11 the turkish statistical institute is expected to announce second quarter growth results at 0700 gmt on aug 31 additional reporting by milounee purohit and anisha sircar writing by ali kucukgocmen