Emerging market

IMF revises down global growth forecast for 2019-2021

The International Monetary Fund (IMF) has downgraded its growth forecasts for 2019-2021, primarily reflecting negative surprises to economic activity in a few emerging markets.

In its latest World Economic Outlook, the fund expected global economy to grow 2.9 percent in 2019, 3.3 percent in 2020, and 3.4 percent in 2021

World Bank: Turkey recovering 'faster than expected'

A World Bank report released late on Jan. 8 projected the Turkish economy would grow 3 percent in 2020 and 4 percent in 2021, rebounding from earlier financial turmoil at a faster pace than expected as domestic demand improves.

The bank revised its previous forecast that Turkey would contract 1 percent in June 2019 to 0 percent in its latest Global Economic Prospects report.