Turkey’s economy grew 7.4 percent in 2017, compared with the previous year, the Turkish Statistical Institute (TurkStat) had announced on Thursday. Although many of economy institutions gradually revised the forecasts periodically, the 7.4 percent growth still managed to beat the previously declared predictions.
IMF
The International Monetary Fund on Thursday revised up its forecast for Turkey’s economic growth in 2018 and 2019 to 4.3% while it warned the global positive momentum may eventually slow down in the medium-term.
In its “Global Prospects and Policy Challenges” report, published before Monday’s G20 finance ministers meeting in Buenos Aires, the IMF raised the expected real GDP growth of Turkey to 4.3% from its previous forecast of 3.5% published in its outlook report last October, Anadolu Agency reported.
OECD
Organization for Economic Cooperation and Development (OECD) said that the economy will grow by 6 percent. The US-based credit rating agencies Moody’s and Fitch said the country’s economy was expected to grow by 6.7 percent and 5.5 percent respectively.
MOODY’S AND FITCH RATINGS
Moody’s had to revise its growth prospects from 3.7 to 6.7 percent in February. Fitch Ratings also revised its prospects from 5.5 percent to 6.8 in January.