While Turkiye struggles with inflation, it takes decisive steps for uninterrupted growth. While the targets were met, international institutions and organizations revised their growth expectations one after another.
Turkiye is moving forward without compromising its monetary and fiscal policy. Steps are being taken one after the other. The target is a permanent decrease in inflation to single digits. In addition, growth-supporting steps are not abandoned.
The growth trend continued for 12 consecutive quarters
The Turkish economy grew by 3.9% in the first quarter and 3.8% in the second quarter. Thus, the growth trend continued for 12 consecutive quarters. Turkiye’s growth performance and the targets set brought upward revisions.
The latest revision came from the international credit rating agency S&P. The organization increased its year-end growth expectation for the Turkish economy by 1.2 points. It increased from 2.3% to 3.5%.
The Organization for Economic Co-operation and Development (OECD) also made a revision last week. It increased its growth expectation from 3.6% to 4.3%.
Moody’s also increased its year-end growth forecast by 1.6 points to 4.2%. Fitch increased it from 2.5% to 4.3%. The World Bank and the IMF have a year-end growth expectation of 3.2% and 3%, respectively.
Strong, balanced and inclusive growth is aimed in the new period. Sustainability will also be achieved through increased investment, production and employment. In parallel, upward revisions are expected to continue.
Source: Trthaber / Prepared by Irem Yildiz