The Turkish economy is expected to grow by 8.6

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 The Turkish economy is expected to grow by 8.6
The Turkish economy is expected to grow by 8.6

The Turkish economy is expected to grow by 8.6


International credit rating agency Standard & Poor’s has rated Turkey’s foreign currency credit rating “B+” and stated that 8.6 percent growth is expected this year as the economy remains pandemic-resistant.

In its statement, the agency noted that the Turkish market recovered quickly during the epidemic, and that the country’s economy continued to grow this year.

It affirmed the foreign currency rating at “B +”, the local currency’s rating at “BB-” and the outlook as “stable”.

She drew attention to the strong recovery in exports and domestic economic activities.

She stated that 8.6 percent growth is expected in the economy this year, as these activities remain epidemic-resistant, noting that Turkey’s financial position remains strong compared to many other emerging market economies and continues to support the country’s credit rating. .

In the statement, which also included forecasts for the Turkish economy, the economy is expected to grow by 8.6 percent this year, 3.3 percent in 2022 and 3.1 percent in 2023 and 2024.

The unemployment rate in the country is estimated at 12.6% in 2021, 12.2% in 2022, 11.2% in 2023 and 11% in 2024. Inflation is expected to reach 17.3% this year, 12% in 2022, 9.5% in 2023 and 9.2% in 2024.

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