Moody’s predicts growth of Turkish economy

International rating agency Moody’s predicts the growth of the Turkish economy at 2.5 percent in 2024.

This follows the report by Moody’s Global Macro Outlook 2024-25 for February. The report is published under the heading “G20 Economics growth is stabilized at a lower level in 2024.”

According to the agency, for 2025, the increase in Turkish GDP is expected by 3 percent.

According to the report, after the pandemic, the world economy has passed into a balanced state, accompanied by a sustainable normalization of economic activity in developed and developing markets,.

It is predicted that the US Federal Reserve (Fed) and the European Central Bank (ECB) will begin to reduce interest rates in the second quarter of the current year.

The authors of the report warn that geopolitical risks and inflation are still pose a potential threat to economic prospects.

According to Moody’s, the growth of economies of the G20 countries may decrease compared to the levels of 2022 and 2023. The economic growth of the “large twenty” is predicted at 2.4 percent in 2024 and 2.6 percent in 2025.