(MENAFN) The World Bank increased its estimation for Turkey’s gross domestic product (GDP) development for the current year to 8.5 percent.
In the bank’s recent issue of its Economic Update Report for the Europe and Central Asia (ECA) Region, the declaration came.
According to the World Bank, the economy estimated to increase 8.5 percent in the current year before returning to a path of 3 percent and 4 percent in 2022 and 2023, correspondingly.
It further declared that "These baseline projections assume no further COVID-19 restrictions in Turkey or its major export markets or excessive flareups in macrofinancial conditions."
Turkey’s economy was one of the few among G20 and OECD countries to mark positive improvement in 2020.
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