The Organisation for Economic Co-operation and Development (OECD) has raised its growth and economic forecasts for Turkey in its latest 'Economic Outlook' report.
Accordingly, the 2023 growth forecast for Turkey was raised from 4.3 percent to 4.5 percent. The forecast for 2024 was set at 2.9 percent, and the 2025 forecast at 3.2 percent.
REVISION TO INFLATION
Inflation projections were also revised upward. The 2023 inflation forecast was raised from 52.1 percent to 52.8 percent, and the 2024 projection was increased from 39.2 percent to 47.4 percent.
It was noted that the Central Bank of the Republic of Turkey (TCMB) is expected to continue its interest rate hikes until the inflation outlook improves significantly.
News Source: 12punto
