Over 5 Percent Growth in the First Quarter
In the light of fully-released January, February, and partly-released March leading indicators, we expect GDP to expand by 5.8 percent on a yearon-year basis for the first quarter of 2022. According to seasonal and calendar adjusted data, we forecast quarter-on-quarter GDP growth to be 1.0 percent.
IMF has not changed Turkey’s economic growth expectations for 2022 but has revised the global economic growth one from 4.9 percent to 4.4 percent. On the other hand, World Bank has reduced its forecast from 2 percent to 1.4 percent for the Turkish economy.