Moody's raises its expectations for the growth of the Turkish economy this year

The international credit rating agency "Moody's" has increased its positive outlook regarding the growth rates of the Turkish economy for the current year 2022, as the international agency raised its forecast for the growth of the Turkish economy this year to 5.3%, instead of the previously announced rate of only 4.5%.

According to the report published by "Moody's" about global economic forecasts last Thursday, the international agency maintained its growth forecasts for the Turkish economy for the coming years, as its growth forecast for the Turkish economy during the upcoming year 2023 reached 2%, and 3% for the year 2024.

The published report confirmed that the global economy will enter a recession phase due to the increased uncertainty resulting from the continued rise in global inflation rates.

"Moody's" also lowered its expectations regarding the growth of G20 economies for this year, as the international agency forecasted that the growth rate for the G20 during the current year would be 2.1% instead of 2.5%, and 1.3% instead of 2.1% for the upcoming year 2023.

Edited by: Imtilak Real Estate

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