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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.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
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