The international credit rating agency Fitch Ratings has revised upwards its forecasts in its latest world economic outlook report, now estimating that the global economy will grow by 2.5% this year – a tenth of a percentage point higher than in its previous estimate – while for 2026 the projection also improves from 2.3% to 2.4%. In the case of the Turkish economy, the report forecasts growth of 3.8% in 2025 and 3.5% in 2026.
Fitch has published the December edition of its Global Economic Outlook, entitled Rising IT investments and rising equity markets mitigate the US slowdown: a document in which the agency confirms that its estimates for the Turkish economy in 2026 and 2027 remain unchanged, calculating Turkey’s growth at 3.5% for 2026 and 4.2% for 2027, Turkish daily Hürriyet reported.
According to the report, strengthening wealth stemming from increased investment in technology and strong stock markets have mitigated the impact of tariffs on the US economy: factors that have also led to improved global growth forecasts for 2025 and 2026, with the European Union showing a better-than-expected performance.
Despite the upward revisions, Fitch notes that global growth will moderate from 2.9% in 2024 to just 2.5% this year and 2.4% in 2026. By 2027, the world economy is forecast to expand by 2.6%.
Better forecasts for the US, China and the Eurozone
In its previous report published in September, Fitch projected growth of 2.4% this year and 2.3% by 2025 for the global economy. In addition, in its new calculations it also improves the estimates by region: US growth for 2025 rises from 1.6% to 1.8%; that of the Eurozone, from 1.1% to 1.4%; and that of China, from 4.7% to 4.8%.
This new revision of global and regional growth forecasts comes on the heels of the recent OECD report, which also raised its outlook for Turkey. According to the OECD, the Turkish economy will grow by 3.6% in 2025, 3.4% in 2026 and up to 4% in 2027, after having grown by 3.3% in 2024; in its previous report in September, the OECD forecast Turkish GDP to grow by 3.2% in both 2025 and 2026.
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Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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