IMF Revises Upward Growth Forecasts for Türkiye in 2025 and 2026

The International Monetary Fund (IMF) has raised its GDP growth projections for the Turkish economy for both this year and the next.

In its World Economic Outlook update, the IMF said that Türkiye’s economy is expected to grow 3 percent in 2025 and 3.3 percent in 2026, The Caspian Post reports citing Turkish media.

In its April forecasts, the IMF had predicted the Turkish economy would grow by 2.7 percent this year and 3.2 percent next year.

The IMF also raised its global growth forecast as efforts to circumvent Donald Trump's sweeping tariffs sparked a bigger-than-expected surge in trade.

The IMF still sees growth slowing this year, however, even as it lifted its 2025 projection to 3 percent, up from 2.8 percent in April.

In 2024, global growth came in at 3.3 percent.

Looking ahead, the IMF expects the world economy to expand 3.1 percent next year, an improvement from the 3 percent it had earlier predicted.

Despite the upward revisions, "there are reasons to be very cautious," IMF chief economist Pierre-Olivier Gourinchas told AFP.

"Businesses were trying to frontload, move stuff around, before the tariffs were imposed, and so that's supporting economic activity," he said.