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A Failed Coup in Turkey Could Lead to Drastic Plastic Concerns

A failed coup attempt launched late last Friday by a wing of the Turkish army has had little impact on the polymer market. So far, Turkey’s petrochemicals sector has not been ruffled by the recent coup attempt and production levels are unaffected according to sources at Turkey’s largest plastics producer Petkim.

However, the coup attempt has raised concerns about the unstable state of politics as well as the Turkish economy in the near future, especially regarding the volatility of its currency. The country was already facing a weakening economic situation with GDP dropping below 2% over the last year, and the recent geopolitical unrest is likely to exacerbate the situation.