World Bank raises Turkey’s growth forecast for next 3 years

Dünya Executive - - OVERVIEW -

The World Bank has raised Turkey’s economic growth projection­s for the next three years, according to its Global Economic Prospects report published on June 4. The economy is now expected to expand 3.5 percent in 2017, up from an estimate of 3 percent in January. Last year, it grew by 2.9 percent, down from 6.1 percent in 2015 and 5.2 percent in 2014. “Turkey is projected to expand by 3.5 percent in 2017, supported by accommodat­ive fiscal policy, and by 3.9 percent in 2018, up 0.4 percentage point from previous estimates for both years, as uncertaint­y abates, tourism recovers and corporate balance sheets mend,” the report said. “A forecast upgrade for Turkey due to the faster-than-anticipate­d recovery after the failed coup attempt is offset by a downward revision in Russia due to the extension of economic sanctions.”

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