2.7% growth forecast for Turkey in 2017

The World Bank revised Turkey’s growth forecast for 2016 to 2.1 percent, as recovery in Q4 was weaker than envisaged earlier. Q3 recorded the largest drop since March 2009 because the failed coup attempt and its aftermath depressed business and consumer confidence and tourism revenues declined. Growth in Turkey is expected to recover to 2.7 percent in 2017 thanks to improving net exports, wrote World Bank’s economists. Turkey’s growth was 6.1% in 2015.