‘Türkiye’ report from the World Bank! Forecasts have changed – Last Minute Economy News

The World Bank published its report on European and Central Asian economies.

The report, which also includes evaluations of the Turkish economy, stated that the country’s economy is expected to grow by 3 percent this year and 3.6 percent next year.

In its January forecasts, the World Bank predicted that the Turkish economy would grow 3.1 percent this year and 3.9 percent next year.

“INFLATION WILL PEAK IN MAY”

The report stated that macroeconomic consolidation efforts are expected to restrict domestic demand.

The bank’s report stated, “While inflation is expected to decline gradually after peaking in May due to the tight monetary policy, the current account balance is expected to improve as of 2024 with the increasing contribution of net exports.”

The report stated that the outlook depends on the continuation of the current policy stance, and noted that the risks to the outlook are balanced.

The increased credibility of the new economic administration could result in greater investment inflows, which could help stabilize the currency and accelerate economic regulation, the report said.

GROWTH IS EXPECTED TO DECLINE

The report stated that a slowdown is expected in the emerging and developing economies of the Europe and Central Asia region this year due to the weakening global economy, tight monetary policy, slowdown in China and low commodity prices putting pressure on the growth outlook of the region.

The report noted that the European and Central Asian economies grew by 3.3 percent last year due to the return to growth of the economies of Ukraine, which was hit by the war with Russia, and the strong recovery in Central Asia, and it was stated that the growth rate of the regional economy is expected to decrease to 2.8 percent this year. The report stated that the European and Central Asian economy is estimated to grow by 2.7 percent next year.

In its January forecasts, the World Bank predicted that the European and Central Asian economy would grow by 2.4 percent this year and 2.7 percent next year.