Withdrawal from the European Union
Moody's on Feb. 24 revised Turkey's economic growth forecast to 1.1% for 2020 from a 5% contraction and 3.5% for 2021 from 4%.
According to a report published by Moody's, the country's rate for 2022 was also revised up from 4% to 5%.
The report noted gross domestic product (GDP) is expected to increase in all G20 economies.
Eurozone unemployment was stable at 8.3% of the workforce in December, the European Union's statistics office Eurostat said on Monday, despite continued coronavirus lockdowns in most eurozone countries.
Still, Eurostat said 13.67 million people were out of work in the 19 countries sharing the euro in December, up from 13.62 million in November.
The Trade and Cooperation Agreement (TCA) between the United Kingdom and the European Union came into effect on January 1, 2021, capping a tumultuous four-and-a-half-year period since the shocking result of the July 2016 Brexit referendum, in which 51.9% of the British voters voted in favor of leaving the EU.
Britain on Jan. 1 began a new year and life outside Europe, after leaving the bloc's single market trading rules to go it alone for the first time in nearly half a century.
Brexit, which has dominated politics on both sides of the Channel since 2016, became reality an hour before midnight, ending the U.K.'s 48-year obligation to follow Brussels' rules.
Like a separated couple still living together, Britain and the European Union spent 2020 wrangling and wondering whether they can still be friends.
On Thursday, the UK is finally moving out. At 11 p.m. London time — midnight in Brussels — Britain will economically and practically leave the the 27-nation bloc, 11 months after its formal political departure.
The father of British Prime Minister Boris Johnson said he was in the process of applying for a French passport to maintain his ties with the European Union after Brexit.
Stanley Johnson, a former member of the European Parliament who voted Remain in Britain's 2016 referendum, told RTL radio he wanted to become a French citizen because of strong family links to France.