EBRD lowers Türkiye's growth forecast for 2024

12:50 - 15.05.2024

May 15, Fineko/abc.az. The EBRD has reduced Türkiye's growth forecast for 2024 from 3% to 2.7%.

ABC.AZ informs that the Bank lowered its growth expectations on the Turkish economy for 2024 from 3% to 2.7%, with expectations that it will continue to tighten monetary and fiscal policies to combat inflation.

EBRD report says that although the return to orthodox politics in Türkiye has increased investor confidence and boosted their credit rating, growing geopolitical tensions in the region and high short-term needs for foreign finance, "downside risks in the form of tense global financial conditions persist".

The report notes that EBRD's growth forecast on Türkiye is 3% for 2025.