The IMF (International Monetary Fund) has raised growth forecasts for Turkey’s economy for this year 2023, based on economic data from the Eurasian country during the first quarter. In its latest World Economic Outlook report, the IMF says that inflation maintains a downward trend as well as the risks for the world economy, despite difficulties in access to credit due to interest rate hikes; therefore, it forecasts that global GDP will grow by 3%, 0.2 points more than its previous forecast for April. Regarding Turkey, the new forecast is that the Turkish economy will also grow by 3% in 2023 compared to the previous estimate of 2.7%; however, for 2024 the IMF lowers the forecasts from 3.6% to 2.8%.
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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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