Economists project Türkiye's GDP to expand by 2.64 percent in Q3
Date
11/26/2024 8:19:33 AM
(MENAFN) Economists have projected that Türkiye's gross domestic product (GDP) will grow by 2.64 percent in the third quarter of 2024, according to a survey conducted by Anadolu, which was released on Monday. This estimate is based on the predictions of a group of economists who were surveyed about the potential growth rate for the period. The Turkish Statistical Institute (TÜİK) is set to release the official GDP figures for the third quarter on Friday, November 29. This data will give a clearer picture of how the Turkish Economy has performed during this period, providing valuable insights into economic trends and the effectiveness of government policies.
The range of GDP growth estimates for the third quarter from the surveyed economists varied between 2.4 percent and 3.1 percent. These differing projections highlight the uncertainty that often accompanies economic forecasts, especially in a period marked by global and domestic challenges. The wide range of estimates suggests that while there is consensus on moderate growth, there are differing opinions on how strong that growth will be. As the third-quarter figures become available, they will offer important data for policymakers, investors, and analysts who are closely monitoring Türkiye’s economic performance.
Looking ahead to the entire year of 2024, the average GDP growth forecast stands at 2.98 percent. However, the economists’ projections for the full-year growth rate range from a low of 2.7 percent to a high of 3.2 percent. This forecast reflects the continued uncertainties in the global economy, as well as the impact of domestic policies and external factors. While Türkiye's economy is expected to experience modest growth, challenges such as inflation, interest rates, and geopolitical developments could influence the final outcome for the year.
Looking further into 2025, economists are generally optimistic about Türkiye's economic trajectory, with the average GDP growth forecast for that year standing at 3 percent. This suggests that despite the challenges faced in 2024, the economy is expected to continue its recovery and growth in the following year. For comparison, Türkiye’s economy grew by 5.9 percent in the third quarter of 2023, which was a relatively strong performance, and 2.5 percent in the second quarter of 2024. These figures demonstrate the mixed performance of Türkiye’s economy in recent quarters, with growth rates varying depending on the period and economic conditions.
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