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S&P Revise 2023, 2024 Growth Forecasts Higher

TURKEY
  • In the "Economic Outlook Emerging Markets 4Q 2023" report published last night, S&P Global stated that they increased their 2023 growth forecasts for Turkey, pointing to the upward surprises in second quarter GDP growth. The 2023 GDP growth forecast was increased by 1.2 points to 3.5%, 2024 growth expectations rose by 0.3 points to 2.3%, while 2025 and 2026 forecasts were reduced by 0.2 points to 2.9%, according to Ekonomi who cited the report.
  • There is little else in the way of notable domestic news flow today.
  • Trade balance data is the key release of the week on Friday (Est: -$8.90bln).

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