IMF revises Turkey's growth forecast

The International Monetary Fund (IMF) has published the October edition of its World Economic Outlook report, titled "Navigating Global Divergences."

The IMF has made upward revisions to its growth expectations for the Turkish economy for both this year and next year.

The Turkish economy is now projected to grow by 4 percent this year and 3.25 percent next year.

In its July forecasts, the Fund had projected that the Turkish economy would grow by 3 percent this year and 2.8 percent next year.

WELCOMED WITH SATISFACTION

On October 6, the IMF also shared its assessments regarding the country's economy following a visit to Turkey by an IMF delegation led by James Walsh between September 25 and 29.

In a statement issued by the Fund, it was reported that the policy shift implemented in Turkey since the elections has been welcomed with satisfaction.

The statement noted that recent steps taken toward raising the policy rate, increasing taxes, and liberalizing certain financial sector measures have reduced risks and boosted investor confidence, adding that the reserve position of the Central Bank of the Republic of Turkey has also improved.

News Source: AA