IMF raises Turkish growth forecast

Hurriyet Daily News - Türkiye’s economy may expand 7.8 percent this year, more than double the pace of Europe’s other emerging markets, said the International Monetary Fund, raising its forecast on stronger-than-expected consumer spending. The IMF’s previous growth forecast for Türkiye, published a month ago, was 6.1 percent. Its prediction for overall expansion in emerging Europe, which includes Türkiye and excludes Russia, was 3.7 percent, according to the IMF’s World Economic Outlook published on Wednesday. Türkiye is rebounding from the global financial crisis faster than many peers in emerging Europe because of “relatively strong household and bank balance sheets” and the normalization of global trade and capital flows, said the IMF.