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The IMF Expects Economic Growth
in 2021 from Turkey

As in all other countries, the Covid-19 outbreak also affected the health and economy of Turkey. However, Turkish monetary and credit expansion focus on policy intervention, the floor was a strong impetus to economic growth.

 

The statement recorded: "The recent policy turn away from rapid money and credit growth is welcomed. If this transformation continues and if the temporary outbreak-focused additional support is combined with a reliable plan for medium-term fiscal consolidation as well as the financial sector and structural reforms, the buffers can be rebuilt more quickly.

Structural reforms. "should focus on mitigating the risks posed by the long-term negative effects of the epidemic and include targeted measures to support the most vulnerable, promote labor market flexibility and facilitate corporate debt reduction."

In the IMF's statement, it was stated that since late 2020, the tightening of monetary policy, the loosening of temporary regulatory measures, and the apparent slowdown in state-owned bank loans have helped to limit the pressure on the Turkish lira and rebuild trust.

In a statement also evaluated Turkish outlook for the economy, "the economy is expected to continue positive growth in 2021." expression was used. In a statement, the Turkish economy is expected to nearly 6 percent growth recorded in 2021.

The statement recorded: ‘‘From 2022 onwards, growth is projected to settle back to trend (about 3½ percent). Inflation is expected to fall modestly by end-2021’’ also added that ‘‘Employment is expected to continue to recover slowly as the pandemic subsides.’’

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