The Organisation for Economic Co-operation and Development (OECD, for its acronym in English) has raised its forecast for the growth of the Turkish economy for 2025. According to the organisation, the GDP of Turkey will grow this year to 3.1%, compared to the previous estimate of 2.6%, although the forecast for 2026 falls slightly from 4% to 3.9%.
The report issued by the OECD notes a half-point increase in the growth forecasts for the Eurasian country’s economy for 2025. Furthermore, among the OECD member countries, Turkey and Spain were the economies with the highest growth in 2024, with an increase in GDP of 3.2% in both cases, followed by the United States, which experienced a growth of 2.8% last year.
In terms of rate of inflation, the OECD predicts that it will fall to 31.4% by the end of 2025 in Turkey, 0.7% more than in its previous report issued in December, while the estimate for 2026 also increases slightly by 0.1 points, rising to 17.3%.
Globally, the OECD’s outlook is not good due to factors such as rising tariffs and ‘geopolitical uncertainty’, which are ‘holding back investment and household spending’, and it also anticipates that inflation will be ‘higher than expected’.
The US economy will grow by 2.2% in 2025 compared to the previous estimate of 2.4%, with the OECD anticipating a fall to 1.6% in 2026, half a point less than in its December report. GDP growth forecasts for the Eurozone have also fallen – from 1.3% to 1% – although it will increase to 1.2% in 2026, while China is expected to maintain a good growth rate of 4.8% in 2025 and 4.4% in 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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