WORLD BANK UPGRADES TURKEY'S GROWTH FORECAST
The World Bank said on Wednesday it has raised Turkey's economic growth forecasts for this year to 0% from %1 contraction.
In its "Regional Economic Update - Autumn 2019" report published today, the World Bank revised its growth forecast for 2019 upwards, stating that the Turkish economy is recovering from the sharp slowdown in growth since the second half of 2018. It maintained its expectation that the economy will recover strongly in 2020 and 2021.
According to the media reports, the World Bank revised its expectation that the Turkish economy will contract by 1 percent in 2019 to 0.0 percent and hold the GDP growth forecasts for the year 2020 and 2021 as 3 and 4 percent steady, respectively.