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EBRD ups Its 2022 Economic Growth
Forecast for Turkey

International organizations continue to raise their growth forecasts for Turkey in their current reports. Finally, the EBRD increased its growth expectation from 2% for the Turkish economy to 4.5%.


Stating that Turkey will maintain its strong growth with the effect of export-oriented policies and the pre-election economy, experts draw attention to the risk of high inflation.


The European Bank for Reconstruction and Development (EBRD) raised its growth forecast for Turkey from 2% to 4.5% in six months this year. In the EBRD's regional economic hold report, Turkey's growth for next year was estimated at 3.5%.



The Turkish economy started to slow down after growing 7.6% in the 2nd quarter due to strong exports and the acceleration in domestic demand.


Roger Kelly, the chief regional economist in charge of Turkey at the EBRD, stated that the growth forecast was increased because consumption in Turkey remained stronger than expected despite the war between Russia and Ukraine.


In the section on Turkey of the EBRD's "Regional Economic Prospects" report, the details of which were shared yesterday. It was stated that the growth expectation for the Turkish economy, which was estimated to be 2% in May this year, was increased to 4.5%.


Emphasizing that Turkish banks are one of the strengths of the Turkish economy with their well-capitalized and non-performing loan rates below 3%, the report stated that economic activity remained relatively strong.



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