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Fitch Revises Turkey 2021 Growth to 9.2% vs 7.9% prior

TURKEY
  • Fitch Ratings revises Turkey's 2021 economic growth forecast to 9.2% in September vs 7.9% in August.
  • "Growth in 2021 is likely to be the highest in almost a decade as the rebound from the pandemic crisis continues," the report said, adding economic momentum has continued into second half of this year with ongoing recovery in leading indicators and mobility indices.
  • Fitch noted that it expects Turkey's GDP growth to slow to 3.5% in 2022, but then recover to 4.5% in 2023 "as the policy stance is eased ahead of the 2023 general election."
  • "Current strong growth rates have been accompanied by high and rising inflation," the report said.
  • Estimates inflation in Turkey to come at 17.2% this year, and 13.4% next year, and then 10.5% in 2023.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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