Turkey revised upward growth forecast for next year to 5%

[Ankara 30th Reuters]-Turkey's Minister of Finance Albailac announced the economic outlook on the 30th and raised the growth rate to 5% next year while reducing the inflation rate to 8.5%.

The Turkish economy recorded negative growth from the previous year for three consecutive quarters since last year's currency crisis, but the finance minister explained that it is expected to turn positive in the July-September period according to leading indicators. “We achieved a soft landing”.

Expected growth rate is 0.5% in 2019 and 5% in 20 years. Last year's forecast was 2.3% in 19 years and 3.5% in 20 years.

The growth rate forecast for 21 years is unchanged at 5%, and it is also 5% for 22 years.

Inflation forecasts were 12.0% in 19 years and 8.5% in 20 years, down from the previous forecasts of 15.9% and 9.8%. In 2009, it was left at 6.0%.

The finance minister said he would continue to coordinate monetary and fiscal policies, and said the government strongly supported the fight against inflation by central banks.

But analysts and investors are dissatisfied with the lack of reforms that reduce the economy's dependence on foreign capital. Capital economics senior emerging market economist Jason Tabby said “if the government pushes the stimulus, it ’s possible to grow 5%,” and if it forcibly achieves 5% growth, It just causes an imbalance. "