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In the statement made by the bank, it was indicated that the forecasts for the economies of Europe and Central Asia were updated. In the statement, which emphasized that the recovery of exports and the equilibrium of the prices of industrial raw materials partially offset the effects of the new coronavirus epidemic (Covid-19) that increased again at the end of 2020, it was noted that the upside and The developing economies of Europe and Central Asia are expected to grow 3.6 percent this year. In the statement, it was indicated that a moderate growth performance is expected in the region in 2021 after the 2 percent contraction registered in 2020 due to the interruptions experienced by the epidemic.
THE FORCE IN THE REGION WAS LESS THAN EXPECTED
The Bank’s statement was used, “The largest economies in the region strongly than expected thanks to the recovery of Turkey and show a robust performance was less than the expected contraction of Russia.”
In the statement, which emphasized that the outlook is still uncertain, it was noted that regional growth is expected to increase to 3.8 percent in 2022 with the gradual mitigation of the effects of the epidemic and the acceleration of trade and investment.
In the statement, it was noted that growth may be weaker if external financing conditions tighten or geopolitical tensions increase as a result of a further prolongation of the process of ending the epidemic, delays in vaccination, increased rates of global interest or worsening investor perception.
UPWAY REVISED
The Europe and Central Asia region to update the scope of the economic growth estimate of Turkey’s economy was also revised upward.
Turkey’s economy, which had previously been projected to grow 0.5 percent in 2020, grew 1.8 percent last year.
In 2021, Turkey’s economy growth forecast was raised to 5 percent from 4.5 percent.
UP TO 5 PERCENT
Banking, Global Economic Prospects report, released in January, the 2021 growth forecast at 4.5 percent for Turkey attracted 5 percent. Thus, the World Bank, has raised its forecast for 2021 related to the Turkish economy again to 5 percent.
The 2022 forecast for the growth performance of the country’s economy was lowered from 5 percent to 4.5 percent. In 2023, Turkey’s economy was expected to grow 4.5 percent.
