World Bank forecast for the Turkish economy

The World Bank, Global Economic Prospects report's January edition has been published. The report states that the global economy has been more resilient than expected despite ongoing trade tensions and policy uncertainty.it was stated that it proved to beresilient.

Global economic growth is expected to remain generally stable over the next two years, the report noted, with growth projected to be 2.7 percent in 2025,beforeslowing to 2.6 percent in 2026,followingand is expected to rise to2.7 percent in 2027.It was reported that

TheWorld Bankstated in its June forecasts that theglobal economythis year2.4 percent and next yearit projects growth of 2.6 percent.

The resilience in the global economy, particularly in the 2026 year forecast, is due to an upward revision of nearlyreflecting growth above expectationsin the U.S., which accounts for two-thirds of thetotal, the report states that, nevertheless, if these forecasts holdtrue,the 2020s would be the decade with the weakestglobal growth since the 1960s.it was stated that it is on track to be the lost decade.

In the report, it was noted that global inflation is expected to decline due to weakening labor markets and falling energy prices,reaching a lower level by 2026.The report highlights thatthis trend will continue through 2026.projected to decline to 2.6 percentgwas recorded.

TURKISH ECONOMY GROWTH FORECASTS RRAISEDIT

In the report, it isexpected that the Turkisheconomy will grow by3.7 percent this year andby4.4 percent next year.it was reported.

The World Bank in its June forecasts, had projected that the Turkish economy would grow by 3.6 percent in 2026 and 4.2 percent in 2027.

In the report, it was noted that economic activity in Turkey, due toIt was stated that robust domesticdemand was supported, particularly by strong construction investments and the monetary easing implemented throughout the year.

Private consumption in the country is expected to growamid an environment of ongoing gradual disinflation, supported by rising realwages,it is projected.In the report, which states that the current account deficit is expected to widen, while the fiscal deficit is projected to narrow, primarily reflecting a decrease in earthquake-related reconstruction expenditures, it wasforecast.

News Source: 12punto