Invest in Turkey - Issue #70

In the IMF’s October 2019 Global Economic Outlook Report, the global growth forecast for the world this year was revised down from 3.2 percent to 3 percent, and from 3.5 percent to 3.4 percent for the coming year. The growth forecast for 2019 is the slowest expected since the 2008 global financial crisis. As a result of the reforms implemented in the last 17 years to improve economic and investment environment, Turkey is now the 13th largest economy in the world according to GDP at PPP in 2018, with an average growth rate of 5.6 percent in the 2003-2018 period. Against this backdrop, in November, international organizations and rating agencies revised upwards Turkey’s GDP growth forecasts for 2019 and 2020.

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