The international credit rating agency, Fitch, announced that it expects Turkey to increase its economic growth rates for 2021, with remarkable progress in recovery indicators.
This came in an assessment report published by the agency, Thursday, on its official website, under the name “Global Economic Prospects”.
The agency stated that “Turkey is likely to witness in 2021 the highest economic growth in the last decade.”
And it indicated that “Turkey’s economy is expected to grow this year from 7.9 to 9.2%.”
She explained that, “Turkey’s economic growth is expected to decline to 3.5% for the year 2022, and to rise again to 4.5% for the year 2023.”
She added, “The annual inflation rate in Turkey is expected to be 17.2% for 2021, 13.4% for 2022, and 10.5% for 2023.”
Meanwhile, Fitch lowered its forecast for global economic growth from 6.3% to 6% for the current year.
It is noteworthy that Turkish exports increased 40% in the first six months of this year, and amounted to 105 billion dollars, while the volume of foreign trade reached 231.1 billion dollars in the first 6 months of 2021, registering the highest value at the semi-annual level.
Turkey achieved economic growth during the past year, despite the challenges of the “Corona” pandemic, to be ranked second after China, in the list of the most developed countries among the G-20 countries, which include the world’s largest economies