Turkey’s economy is expected to expand above 6 percent by the end of this year, according to the Organization for Economic Co-operation and Development (OECD) on Tuesday.
The OECD’s revision indicated an increase to 6.1 percent from 3.4 percent growth forecast for the Turkish economy for this year; the organization also revised up its 2018 growth forecast to 4.9 percent from 3.5 percent.
Statement from the OECD said “As fiscal stimulus is scheduled to be withdrawn in 2018, against the backdrop of continuing regional and domestic uncertainties, strengthening business and household sentiment will be essential for maintaining growth momentum.”
GROWTH ESTIMATE FOR 2019
The targeted annual unemployment rate at the end of 2017 is 10.8 percent, 10.5 percent for next year, 9.9 percent in 2019 and 9.6 percent in 2020.
Meanwhile, the OECD stated that the global economy will grow by 3.6 percent this year, 3.7 percent in 2018 and 3.6 percent in 2019.