WorldTurkey predicts over 9% economic growth rate in 2021

Turkey predicts over 9% economic growth rate in 2021


AA / Ankara

Turkey is forecasting an economic growth rate of over 9% in 2021, Turkish Treasury and Finance Minister Lutfi Elvan said.

The minister spoke to the Parliamentary Budget Committee on Friday in Ankara.

He noted that the whole world and Turkey have been going through an extraordinary time because of the Covid-19 pandemic, for two years.

Emphasizing that the pandemic has shaken macroeconomic balances, Elvan explained: “The global inflation rate is expected to peak at 4.3%, in 2021. Developed economies, such as Germany, Spain and the United States, have the highest inflation rate in 25-30 years. Thus, the monetary policies applied by central banks in developed countries will determine the pace in 2022. “

Welcoming Turkey’s performance in this extraordinary context, Elvan said they forecast “a growth rate above 9% in 2021, with well-balanced growth.”

“We had forecast, for the 2021 Budget, a budget deficit of 4.3%, he concluded. We will end the year with a deficit of 3.5%.”

* Translated from Turkish by Nur Asena Ertürk

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