The International Monetary Fund (IMF) on Tuesday said that Turkish economy is now expected to expand 4% in 2023 and 3% in 2024, up from the previous projections of 3% and 2.8%, respectively.
IMF announced that it kept its GDP growth forecast for the global economy constant at 3% for 2023, but lowered its expectation for 2024 by 0.1 percentage points to 2.9%.
The institute's growth expectation for the advanced countries were unchanged at 1.5% and 1.4% for 2023 and 2024, respectively, the IMF said in a report.
Emerging markets' GDP growth is expected to be at 4% for both 2023 and 2024, while the fund's previous forecast, in July, was at 4.1% for 2024.
The euro area is expected to grow 0.7% in 2023, down 0.2 percentage points, and 1.2% in 2024, down 0.3 points.
Among major eurozone economies, Germany is expected to narrow 0.5% this year and grow 0.9% next year, while both expectations dropped.
