The World Bank has raised its growth forecasts for Turkey for 2026 and 2027.

Updated Growth Forecasts for Turkey by the World Bank

The World Bank has updated its growth forecasts for the Turkish economy. According to the Europe and Central Asia Economic Update Report, Turkey is expected to grow by 3.5 percent this year. It is projected that this growth will reach 3.7 percent in 2026 and 4.4 percent in 2027.

Increase Compared to Previous Forecasts

As a reminder, in the forecasts made in June, it was expected that Turkey would grow by 3.1 percent in 2025, 3.6 percent in 2026, and 4.2 percent in 2027.

Economic Situation in the Region

According to the World Bank's report, economic growth in the Europe and Central Asia region is expected to drop to 2.4 percent. It is emphasized that the main source of this slowdown is the weak growth rate of the Russian economy. Despite this situation faced by the regional economy, the East Asia and Pacific regions aim to achieve a growth rate of 4.8 percent with great resilience.

Slowdown Expected in South Asia Next Year

In the South Asia region, the current strong growth is expected to reach 6.6 percent, while next year it is projected to decline to 5.8 percent. This decrease is attributed to global economic slowdown and uncertainties in trade policies.

Situation in Latin America and the Caribbean, and Sub-Saharan Africa

The economy in the Latin America and Caribbean region is expected to grow by 2.3 percent. Here, the positive impact of entrepreneurship on employment and productivity has the potential to break the low growth cycle. On the other hand, a growth of 3.8 percent is expected in Sub-Saharan Africa, as the financial data in the region continues to show resilience, indicating a decrease in inflationary pressures.

Signs of Improvement in the Middle East and North Africa

Finally, data regarding the economy of the Middle East and North Africa predicts a growth of 2.8 percent this year, presenting a positive outlook. However, it is also noted that the region faces various socioeconomic challenges.