The World Bank revealed its forecasts for the global economy, raising its forecast for Turkey’s economic growth from -1% to 0%.
The bank maintained its growth projections for Turkey’s economy in 2020 and 2021 at 3% and 4%, respectively.
According to the World Bank, “the leading indicators show that the trend of recovery continues in Q3.”
The World Bank stated that further decline or fluctuations in emerging markets could affect Turkey as well.
According to the latest Economic Update published for the Europe and Central Asia (ECA) region by the World Bank, growth in the emerging and developing ECA countries is expected to slow to 1.8 percent in 2019.
In June, the World Bank had praised the Emergency Social Safety Net (ESSN), which is a program that provides cash to the most vulnerable refugee families living in Turkey.