New Growth Forecasts for the Turkish Economy by the World Bank

The World Bank has updated its growth forecasts for the Turkish economy in its new report evaluating the global economic situation. The report analyzes economic developments across various regions, including Europe and Central Asia, East Asia, the Pacific, South Asia, the Middle East, North Africa, Afghanistan, Pakistan, Sub-Saharan Africa, and Latin America.

According to the report, Turkey's economy is expected to grow by 3.5 percent in 2023. This growth forecast signals a slow but steady recovery process despite Turkey's challenging economic conditions. For the year 2026, Turkey's growth rate is projected to be 3.7 percent, while for 2027, this rate is expected to reach 4.4 percent.

These figures indicate that Turkey's economic structure will strengthen and begin to mobilize as a result of reforms. Improvements in the country's internal and external conditions, when combined with increased investor confidence and a rebound in industrial production, enhance the likelihood of these growth forecasts materializing.

Particularly, uncertainties in global markets continue to pose risks to Turkey's economic growth. However, it is emphasized that the steps to be taken in line with medium-term growth targets should be supported by structural reforms.

The growth forecasts for 2026 and 2027 present significant optimism regarding Turkey's economy. In this context, ensuring stability in economic policies and implementing sustainable growth strategies will play a critical role in achieving these forecasts.