12/3/2021

International Institutions Revised Upwards Turkey’s Growth Forecasts

​​​The Organization for Economic Co-operation and Development (OECD) has revised its 2021 GDP growth forecast for Turkey from 8.4 percent to 9 percent in its latest “OECD Economic Outlook" report. The institution has raised its forecast for 2022 from 3.1 percent to 3.3 percent and for 2023 to 3.9 percent.

OECD noted Turkey could better seize the new opportunities stemming from changes in GVCs by implementing green transition policies and by ratification of the Paris Agreement. 

Meanwhile, global credit rating agency Standard & Poor's (S&P) increased Turkey's GDP growth forecast by 1.2 points to 9.8 percent for 2021 and by 0.4 percent to 3.7 for 2022 in its recent Europe, Middle East and Africa (EMEA) Emerging Markets report.​​
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OECD; Standard & Poor's; Growth; Turkey; increase