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Despite stimulus, Turkish economy faces grave coronavirus prognosis

Economic analysts shared mixed reactions to Turkish President Recep Tayyip Erdogan’s stimulus package, with some saying it doesn’t go far enough.
Nearly deserted Taksim square due to coronavirus disease (COVID-19) concerns is pictured in central Istanbul, Turkey, March 17, 2020. REUTERS/Kemal Aslan - RC2VLF9WF0CI

ISTANBUL — As health officials reported Turkey's third death linked to the coronavirus Thursday, analysts said the government will need to pursue significant fiscal interventions to stave off long-term economic impacts resulting from the global pandemic.

Turkish President Recep Tayyip Erdogan announced a $15.4 billion economic stimulus package Wednesday, introducing a mix of tax cuts, payment deferrals and increased pension payouts to help citizens and businesses weather the COVID-19 crisis.

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