OECD Upgrades Turkey's Inflation Forecast, Lowers Growth Expectation
The Organisation for Economic Co-operation and Development increased inflation expectations while lowering growth rates in its latest report on the Turkish economy.
The Organisation for Economic Co-operation and Development (OECD) announced that it has revised Turkey's inflation and economic growth projections for the coming years.
Inflation Expectations Increased
In its report prepared for Turkey, the OECD updated its inflation forecasts upwards.
The organization raised its headline inflation expectation for 2026 from 28.4 percent in June to 31.5 percent.
2027 Forecast Also Raised
The upward revision in inflation was extended to encompass expectations for the year 2027.
Turkey's inflation forecast for 2027 was raised from 18.3 percent to 24.7 percent.
Growth Forecasts Revised Downwards
In addition to the increase in inflation forecasts, a decline was also experienced in Turkey's economic growth expectations.
The organization lowered the country's growth forecast for 2026 from 3.1 percent to 2.7 percent.
Third Downward Update
This latest revision was recorded as the OECD's third downward update to Turkey's 2026 growth forecast.
Furthermore, the 2027 growth forecast was also lowered from 3.8 percent to 3.6 percent.
Latest Situation in the Global Economy
Internationally, the OECD slightly revised its global growth forecasts upwards.
It was stated that investments supported by artificial intelligence contributed to the world economy performing better than expected.