OECD revises its growth forecast for Turkey from 4.9 percent to 5.3 percent

Turkey has received good news from the OECD, most recently. The organization has has raised its growth forecast for Turkey from 4.9 percent to 5.3 percent for the year 2018. Just to remind, this is despite all the troubles Turkey has been through recently to include failed coup attempt a while ago and the military operation of Turkish Armed Forces in Syria, currently.

The agency raised its forecast of growth for 2018 from 4.9 percent to 5.3 percent, while it increased its forecast for 2019 from 4.7 percent to 5.1 percent.

The OECD, which has set global growth forecasts of 3.9 and 3.9 percent for 2018 and 2019, respectively, has also updated on the US and Euro Area growth expectations.

Accordingly, the US growth expectation for the years 2018 and 2019 is 2.9 and 2.8 percent, Euro zone expectations were 2.3 percent and 2.1 percent, respectively.