The Organization for Economic Cooperation and Development (OECD) has revised the Turkey’s forecasts for 2021 and 2022. Accordingly, the OECD upgraded economic growth estimation for 2021 from 2.9% to 5.9%, while it downgraded economic growth forecast from 3.2% to 3% for 2022.
“Activity moved above pre-pandemic levels in China, India and Turkey, helped by strong fiscal and quasi-fiscal measures and a recovery in manufacturing and construction,” says the OECD regarding Turkey.
“Turkey is a notable exception, largely reflecting the rapid rebound in the latter half of 2020,” it added.
The OECD said global gross domestic product (GDP) growth would be 1.4% in 2021 and 4% in 2022.
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