The World Bank expects the Turkish economy to grow by 3.5% in 2025
The World Bank published a detailed report on Tuesday predicting that the Turkish economy will grow from 3.1% to 3.5% this year, 2025, and from 3.6% to 3.7% in 2026.
The report covers the economies of Europe and Central Asia, East Asia and the Pacific, South Asia, the Middle East and North Africa, Afghanistan and Pakistan, Sub-Saharan Africa, and Latin America and the Caribbean.
The report predicts that the Turkish economy is expected to grow by 3.5% this year, 3.7% in 2026, and 4.4% in 2027.
For his part, the Governor of the Turkish Central Bank, Fatih Karahan, pledged to maintain a tight monetary policy until price stability is achieved, after figures announced last September showed that deflation was slowing.
He said the Central Bank expects inflation to continue to gradually slow, but that it remains above its expectations, noting that there are upside risks.
During a presentation to the Turkish Parliament's Planning and Budget Committee today, Karahan added that average inflation, which is relatively better than expected, indicates that the underlying trend is around 26%.
He added: "While these levels are lower than the annual consumer price inflation rate in September, which reached 33.29%, they indicate a slowdown in the disinflation process."
Karahan said: "We have set our interim inflation targets for 2026 and 2027 at 16% and 9%, respectively."
He continued: "If inflation expectations deviate significantly from the interim targets, we will tighten our monetary policy."
The report covers the economies of Europe and Central Asia, East Asia and the Pacific, South Asia, the Middle East and North Africa, Afghanistan and Pakistan, Sub-Saharan Africa, and Latin America and the Caribbean.
The report predicts that the Turkish economy is expected to grow by 3.5% this year, 3.7% in 2026, and 4.4% in 2027.
For his part, the Governor of the Turkish Central Bank, Fatih Karahan, pledged to maintain a tight monetary policy until price stability is achieved, after figures announced last September showed that deflation was slowing.
He said the Central Bank expects inflation to continue to gradually slow, but that it remains above its expectations, noting that there are upside risks.
During a presentation to the Turkish Parliament's Planning and Budget Committee today, Karahan added that average inflation, which is relatively better than expected, indicates that the underlying trend is around 26%.
He added: "While these levels are lower than the annual consumer price inflation rate in September, which reached 33.29%, they indicate a slowdown in the disinflation process."
Karahan said: "We have set our interim inflation targets for 2026 and 2027 at 16% and 9%, respectively."
He continued: "If inflation expectations deviate significantly from the interim targets, we will tighten our monetary policy."
2025-10-08
Amazing Istanbul
Amazing Istanbul
