IMF revives upwards growth forecasts Türkiye for 2025, 2026
ISTANBUL
The International Monetary Fund (IMF) has revised upwards its GDP growth forecasts for the Turkish economy for this year and next.
In its World Economic Outlook update, the IMF said that Türkiye’s economy is expected to grow 3 percent in 2025 and 3.3 percent in 2026.
In its April forecasts, the IMF had predicted the Turkish economy would grow by 2.7 percent this year and 3.2 percent next year.
The IMF also raised its global growth forecast as efforts to circumvent Donald Trump's sweeping tariffs sparked a bigger-than-expected surge in trade.
The IMF still sees growth slowing this year, however, even as it lifted its 2025 projection to 3 percent, up from 2.8 percent in April.
In 2024, global growth came in at 3.3 percent.
Looking ahead, the IMF expects the world economy to expand 3.1 percent next year, an improvement from the 3 percent it had earlier predicted.
Despite the upward revisions, "there are reasons to be very cautious," IMF chief economist Pierre-Olivier Gourinchas told AFP.
"Businesses were trying to frontload, move stuff around, before the tariffs were imposed, and so that's supporting economic activity," he said.
"There is going to be payback for that. If you stock the shelves now, you don't need to stock them later in the year or into the next year," he added.
This means a likelihood of reduced trade activity in the second half of the year and into 2026.
U.S. growth for 2025 was revised 0.1 percentage points up, to 1.9 percent, while Euro area growth was adjusted 0.2 percentage points higher to 1 percent.
Growth in the world's number-two economy China, however, was revised 0.8 percentage points upwards to 4.8 percent.
