ANKARA
A World Bank report released late on Wednesday projected the Turkish economy would grow 3% in 2020 and 4% in 2021, rebounding from earlier financial turmoil at a faster pace than expected as domestic demand improves.
The bank revised its previous forecast that Turkey would contract 1% in June 2019 to 0% in its latest Global Economic Prospects report.
“In Turkey, activity is rebounding from earlier financial turmoil at a faster-than-expected pace as domestic demand improves; however, the pickup remains fragile amid subdued confidence and investment.” the report said.
Global growth is projected to reach 2.5% in 2020, slightly
Read more: World Bank: Turkey recovering 'faster than expected'
