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S&P Boosts Turkey's GDP Forecast to 8.6%

29.09.21 17:30

International credit rating agency Standard & Poor's (S&P) raised its gross domestic product growth forecast for Turkey to 8.6% in a fresh report released late on Monday.
While the agency's previous forecast had been 6.1% for 2021, it did not change its forecasts for 2022 and 2023, keeping them at 3.3% and 3.1%, respectively, AA (Anadolu Agency) reports. 
The agency said emerging markets in Europe, the Middle East, and Asia saw rapid growth in the second quarter of the year thanks to the stronger consumption and exports.

"As a result, we have revised up our 2021 growth forecasts for Poland, Russia, South Africa, and Turkey," it said.
S&P recalled that while Poland and Russia had reached pre-pandemic growth figures in the second quarter, Turkey's real GDP exceeded its pre-pandemic level by 9%.
It also underlined that the tourism season had boosted Turkey's foreign currency revenues.
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