Newsletters
The International Monetary Fund (IMF) has revised its economic growth forecasts for Türkiye for the years 2024 and 2025. The global lender's "World Economic Outlook Report" indicates a downward adjustment for Türkiye's projected growth, reflecting broader global economic uncertainties.
In its latest report, the IMF has lowered Türkiye's 2024 growth forecast from 3.6% to 3%. Similarly, the 2025 projection has been reduced from 3.2% to 2.7%. Despite these downward revisions, the IMF anticipates that Türkiye's economy will grow by 3.9% in 2029.
The IMF has also updated its inflation expectations for Türkiye. The consumer price index (CPI) forecast for 2024 has been increased to 60.9%, up from the previous estimate of 59.5%. However, the 2025 inflation estimate has been revised down to 33%, from an earlier projection of 38.4%. The report predicts inflation will drop to 24% by the end of 2025.
Globally, the IMF maintained its 2024 growth projection at 3.2% but lowered the 2025 forecast slightly to 3.2% from 3.3%. The report also indicates that global inflation is expected to decrease, with 2024 inflation projected at 5.8% and 2025 at 4.3%.
Türkiye remains one of the emerging markets in Europe facing downward revisions in growth expectations. For the broader group of emerging European economies, the IMF forecasts growth of 3.2% in 2024 and 2.2% in 2025. The long-term outlook for these economies sees growth stabilizing at around 2.5% by 2029.
1 min read
1 min read
