International credit rating agency Moody’s on On Thursday, it raised its forecast for Turkish Economic growth this is yearits own occasion second review in Almost several months.
Moody’s, in its Global Macro Outlook Report, said it expects Turkey’s GDP to grow by 5.3%. year. He. She left her expectations for 2023 and 2024 unchanged at 2% and 3%, respectively.
The latest The rating indicates an upward revision of the rating agency’s report in Late August when it updated its program for 2022 view to 4.5% from 3.5% after Turkey reported stronger than expected growth in The second quarter.
The economy expanded 7.6% year-over-year in July-September period, according to official Data, to extend a hotline on strong local demand and exports.
Moody’s on reduced on Thursday growth Expectations for 2023 as I warned global economy I was on the edge of Retreat amid unusually high levels of Uncertainty amid persistent monetary inflation policy Tightening financial challenges and geopolitical shifts financial market volatility.
He Said declining Activity in Developed economies, in the first place in Europe and North America drive sharp deceleration in 2023 global Gross domestic product growth. In 2024, global Economic activity will accelerate but remain She said tepid.
“Still, period of Relative stability could emerge by 2024 if governments and central banks can navigate their economies through current challenges,” He. She added.
Moody’s expects real Gross domestic product growth in the group of 20 economies (G20) slow to 1.3% in 2023, much lower than the previous estimate of 2.1% and down from about 2.5% growth this is year.
In 2024, global Economic activity will accelerate, but only when a below- trend 2.2% growth rateHe Said.
Moody’s said that the decisive end of the ten-year era of Low interest rates and quantitative easing have resulted in a lot financial losses in asset values about worldStarch dollar Financing costs and extended credit spreads.
She said that so far, the modification of higher Big irregular rates came up financial event with global Its implications, and its basic predictions assume that central banks will do so avoid unregulated tightening of financial Circumstances.
