Reports

5/11/2017

EU Commission, 2017 Spring Economic Estimations Report

The growth estimation for Turkey raised to 3% this year from 2.8% of previous year, for 2018 to 3.3% from 3.2%. Employment increase expected to further raise in 2018. In risk measurements, Turkish banks seem strong

European Union (EU) Commission released 2017 Spring Economic Estimations Turkey report. In the report, it is noted that the high loss of growth rate experienced in Turkey economy in 2016 expected to be reversed gradually as the uncertainties decrease in 2017 Spring. According to the report, economy expected to accelerate towards the end of 2017, primarily by the support of net trade, and on domestic trade basis, by the improvement of trust and monetary climate. 

In accordance with the previous report, Turkey's growth estimation of 2.8% raised to 3% this year and for 2018 from 3.2% to 3.3%. Employment increase expected to further raise in 2018 in Turkey. In risk measurements, Turkish banks seem strong and this will positively contribute to domestic investments.

In the Report, the positive expectations listed as, "Turkey can use current financial possibilities for increasing the domestic demand if required", "net foreign trade may gain strength by the value loss of TL", "tourist number may be raised because of more positive geopolitical environment".

In the report, it is further noted that decreasing domestic uncertainties and the improving financial situation may all ease the demand and trust increase more then expected, downward risks are noted to be high inflation and high unemployment.

In the Report, the growth of Turkey economy for 2017 foreseen to be 3%, for 2018, 3.3%, unemployment ratio in 2017 to be 13.6%, in 2018 to be 14.1%, CPI to be 11.1% in  2017, 8.6% in 2018.