Economy of Turkey

EBRD forecasts 2.5 percent growth for Turkish economy

The European Bank for Reconstruction and Development (EBRD) has predicted in its latest Regional Economic Prospects report that Türkiye's earthquake-hit economy will grow 2.5 percent in 2023.

This was lower than the 3 percent growth GDP expansion forecast in the previous report.

The Turkish growth is expected to bounce to 3 percent in 2024, according to the developments bank.

Int’l funds ‘will be at your doorstep on May 15’

The Istanbul Finance Center (IFC) is an important project for the Turkish economy that will allow international funds to flow into the country, Environment, Urbanization and Climate Change Minister Murat Kurum has stated.

"The Istanbul Finance Center project will have a very important place in the future of the Turkish economy," Kurum said at a news conference at the IFC.

World Bank lifts growth estimates for Türkiye

The World Bank has revised upwards its 2023 and 2024 GDP growth estimates for the Turkish economy in its Europe and Central Asia Economic Update report.

The bank expects the Turkish economy to expand at 3.2 percent in 2023, up from a previous 2.7 percent, while it lifted its growth estimate for 2024 from 4 percent to 4.3 percent.