The International Monetary Fund (IMF) raised on Tuesday its global growth forecast to 3% in its latest economic outlook report, in which it also calculates that the Turkish economy will grow to 3.3% in 2025 as part of a general upward revision of growth forecasts for emerging economies, for which it estimates a GDP increase of 4% this year.
According to various agencies as well as Turkish media, in its World Economic Outlook report published on 29 July, the IMF raises the growth forecast for the world economy by 0.2 percentage points compared to its previous report published in April, while for 2026 it raises it by 0.1 points to 3.1%.
In the case of the emerging economies, it estimates that this group of countries will grow by 4% as a whole this year, compared with an estimate of 3.9% in April. With regard to China, the International Monetary Fund makes its biggest upward revision in this report precisely when assessing the outlook for the Asian giant, and estimates that Chinese GDP will increase by 4.8% in 2025: 0.8% more than the estimate made three months earlier.
Turkey also receives a significant upward revision in the IMF’s latest report, which now points out that the Turkish economy will grow by 3% in 2025 and 3.3% in 2026. In April, the International Monetary Fund had announced that the Eurasian country’s GDP would grow by only 2.7% this year and 3.2% next year.
Modest data for western economies, stagnation in Germany
Western economies also receive upward revisions to their growth prospects, albeit generally more modest; for example, the US economy is projected to grow by 1.9% in 2025 (1.8% in April’s report) and by 2026 to grow by 2% (1.7% in April). The outlook for the UK is also raised slightly (1.2% in 2025, 1.1% in April) and maintained at 1.4% in 2026, as well as for Japan (0.7% in 2025, 0.6% in April), although for next year it is reduced by 0.1 points to 0.5% of Japanese GDP.
As for the Eurozone, the IMF raises its economic growth forecast for 2025 from 0.8% to 1%, and maintains it at 1.2% for 2026. By country, the worst figure continues to be that of Germany, whose economy is expected to grow by 0.1% this year (0% in April) and maintains the figure of 0.9% for 2026. There is no change for France, for which the IMF maintains its growth outlook of 0.6% this year and 1% next year, while Italy’s economy rises from 0.4% to 0.5% in 2025 and remains at 0.8% in 2026. With respect to the EU’s fourth largest economy, the IMF forecast for Spain remains unchanged at 2.5% this year and 1.8% in 2026.
VOTE
EDITORIAL TEAM
🧿 About us
.
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.
…
📣 Your ADVERTISING on Hispanatolia
.
🤗 HELP US WITH A DONATION:
💗 Paypal
