25.04.2025 19:41
The International Monetary Fund (IMF) stated that the impact of the strong momentum in the second half of last year is reflected in Turkey's economic growth performance and revised its growth forecast. Kammer said, "What we see in the growth performance is, to some extent, a continuation of the very strong momentum in the second half of 2024, which has led to an upward revision of the growth forecast."
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Alfred Kammer, Director of the International Monetary Fund (IMF) European Department, stated that the strong momentum observed in the second half of last year is reflected in Turkey's economic growth performance, which has led to an upward revision of the country's growth forecast for this year.
A press conference regarding the economies of the European region was held as part of the Spring Meetings of the IMF and the World Bank.
GROWTH FORECAST REVISED UPWARD
In response to a question from an AA reporter regarding Turkey's economic growth forecasts, Kammer said, "What we see in the growth performance is, to some extent, a continuation of the very strong momentum in the second half of 2024, which has led to an upward revision of the growth forecast. A small increase, but significant in terms of compensating for the negative effects of tariffs and uncertainties on the outlook." Kammer noted that the Turkish government's inflation-fighting program is progressing, and the economic team is implementing the disinflation program.
"DISINFLATION PROGRAM NEEDS TO ACCELERATE"
Alfred Kammer emphasized that the disinflation process needs to occur more rapidly and that this requires a tighter macroeconomic policy mix, stating that the fundamental basis for this is a tighter fiscal policy.
Kammer said, "So why do we advocate for this? Because the longer the effort to reduce inflation takes, the longer the economy remains vulnerable and exposed to unpredictable shocks. Therefore, the disinflation program needs to accelerate, and its cornerstone is a tighter fiscal policy."
REVISED AGAIN THIS YEAR
In the World Economic Outlook Report published on April 22, the IMF slightly revised its growth forecast for the Turkish economy for this year upward while keeping the growth forecast for next year unchanged.
The report noted that growth for the Turkish economy is expected to bottom out at 2.7% in 2025 and accelerate to 3.2% in 2026 thanks to the recent directional changes in monetary policy.
In its forecasts published in January, the IMF had projected that the Turkish economy would grow by 2.6% this year and 3.2% next year.
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