Turkey has worsened the forecast of GDP growth for 2018 and subsequent years

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The government of Turkey worsened the forecast for GDP growth in 2018 to 3.8% from 5.5%, in 2019 - to 2.3% from 5.5%. Turkish Finance Minister Berat Albayrak explained the worsening of the forecast by the currency crisis and increased inflation in the country, noting that the most important infrastructure projects were planned to be implemented with the help of international financing, and less significant projects would have to be suspended. According to the estimates of the Turkish authorities, in 2020 GDP growth is expected to increase to 3.5%, in 2021 - to 5%. The forecast for inflation growth for 2018 was raised to 20.8% from the previously expected 7%. In 2019 inflation is expected to slow to 15.9%, in 2020 – to 9.8%. The forecast for the budget deficit remained unchanged - at the level of 1.9% of GDP this year and 1.8% in the next. At the same time, it is expected that the deficit of the country's balance of payments in 4.7% of GDP this year will decrease to 3.3% of GDP in 2019 and up to 2.7% of GDP in 2020.

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