WorldMoody's raises Turkey's 2021 growth forecast to 6 percent

Moody’s raises Turkey’s 2021 growth forecast to 6 percent


Moody’s has released the August 2021 issue of its Global Macro Outlook 2021-22 report.

In the report, it was pointed out that the global recovery has solidified, but the spread of the Delta variant poses a risk in the new type of coronavirus (Covid-19) epidemic.

Pointing out that inflation is expected to remain high in 2021 for most G-20 economies and to decrease in 2022, it was stated that several advanced economy central banks are expected to gradually withdraw emergency measures, including liquidity support and asset purchases.

In the report, it was stated that the G20 economies, which contracted by 3.2 percent last year, are expected to grow by 6.2 percent in 2021 and 4.5 percent in 2022.

In the report of Moody’s, it was noted that the developed economies of the G20 are expected to grow by 5.6 percent in 2021 and 4.2 percent in 2022. Emphasizing that developing economies are expected to grow by 7.2 percent this year, the report stated that the growth performance of these countries will decrease to 5.1 percent in 2022.

In the report, it was reported that the Turkish economy is expected to grow by 6 percent in 2021. Moody’s, in its report published in May, predicted that the Turkish economy would grow by 5 percent in 2021.

In the report, which pointed out that the growth expectation of the Turkish economy for 2022 was increased from 3.5 percent to 3.6 percent, it was noted that the recovery in the tourism sector supported the growth in the Turkish economy thanks to the ongoing global economic recovery and progress in vaccination.

Pointing out that the continued impact of last year’s strong loan growth and the base effect also played a role in the growth, the report stated that the growth momentum is expected to slow down in the coming quarters due to the tightening financial conditions, the growth in loans to remain at a much lower level than last year and persistently high inflation. .

. (HAS) is published on the Anadolu Agency website, in summary. ..

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