CEBR's forecast for the Turkish economy
The London-based economic research firm CEBR, in its WELT 2024 report, has projected that the Turkish economy will become the 17th largest economy by 2038.
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In its World Economic League Table (WELT) report, CEBR has predicted that Turkey will become the 17th largest economy by 2038. According to the WELT 2024 report, the Turkish economy was the 19th largest in the world in 2023.
As reported by Ekonomim, the report also notes that Turkey was the 17th largest economy in 2008 and even reached 16th place in 2013, though it subsequently fell to 19th place in 2019.
As of 2023, Turkey is classified as an upper-middle-income country with a GDP per capita of 41,888 dollars. The report points out that Turkey followed a strategy different from the global trend by lowering policy interest rates from 15 percent to 8.5 percent between December 2021 and May 2023, and emphasizes that high inflation is a result of this unconventional monetary policy.