11/4/2021

EBRD Revises Turkey’s GDP Growth Forecast up to 9 percent for 2021

​The European Bank for Reconstruction and Development (EBRD) has revised Turkey's GDP growth expectation to 9 percent in 2021, up from 5.5, in its recent Regional Economic Prospects report.

Commenting on the data, EBRD's Lead Regional Economist Roger Kelly said, “Turkey definitely has the potential to become a regional and global production hub in the post-pandemic era. Turkey is very well positioned to capitalize on the trend towards shorter supply chains thanks to its flexible manufacturing base and strategic location."

“The Turkish government is implementing policies to enable companies not only to increase their participation in value chains but also to produce more value-added products, that will help reduce Turkey's current account deficit," added Kelly, noting that Turkey's recently unveiled National FDI Strategy is a milestone to attract more and quality FDI into Turkey.

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EBRD; Turkey; Growth;