Year-end dollar forecast based on survey conducted by Central Bank of Turkey
The Central Bank of Turkey (CBT) published an “Expectation Survey” for April”. Based on said study the year-end rate for dollar against TL was forecasted at 3.8352. According to the same survey conducted for March, the same data was forecasted as 3.8495
To be related to these findings, year-end inflation was forecasted to climb to 9.28 percent in April from 9.08 percent the previous month. The 12-month inflation expectation rose to 8.27% and the 24-month inflation expectation rose to 7.87%.
On the other, based on the April survey, Turkey’s growth expectation has risen from 2.9 percent to 3 percent for 2017, climbing to 3.7 percent from 3.5 percent for 2018.
Economy figures have not proved to be to the satisfaction of the government recently owing to several undesired situations the country has gone through for a while. The question now is “Will Turkey be able to make up for lost time, production and revenues especially now that the referendum for amendments in constitution is over as well?”
Time will show if the new system will prove to the benefit of Turkey and bring along improvement in economy as well as politics and democracy to be most important of all.