The World Bank has raised its growth forecast for the Turkish economy, now estimating that Turkey’s GDP will grow by 3.1%, 0.5 points more than it estimated in its previous report – published in January – where it spoke of a growth for this year of 2.6% in the Eurasian country.
However, for 2026 – according to Turkish media reports – the World Bank reduces its forecast for Turkish GDP growth to 3.6%, 0.2 points less than its previous estimate of 3.8% made six months ago, while it affirms that by the end of 2027 Turkey’s economy will be growing at 4.2%.
The World Bank report places Turkey along with Argentina as the countries receiving the most upward revision of their growth forecasts for 2025, within a global economic outlook that remains negative, cutting growth forecasts for the global economy from 2.7% to 2.3% – the lowest level in 17 years – due to trade and political tensions, including the tariff war unleashed by Trump. The organisation stresses in fact that global economic growth between 2020 and 2027 will be the lowest since the 1960s.
In a message posted on the social network X, Turkish Finance Minister Mehmet Şimşek stressed that ‘the World Bank, which has cut growth forecasts for almost 70% of economies by 2025, has increased the estimate for Turkey by 0.5 points,’ stressing that this shows confidence in the current economic programme pursued by the Turkish government. ‘We will continue to resolutely implement our policies to strengthen high and sustainable growth‘.
The new forecast made by the World Bank is in line with the estimate made last March by the Organisation for Economic Co-operation and Development (OECD), which raised its growth estimate for the Turkish economy to 3.1% after having estimated in December last year that it would grow at 2.6%. Recently, the International Monetary Fund (IMF) raised its estimates for Turkish GDP growth by 0.1 percentage points to 2.7%, adding that it will be 3.2% 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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