IMF’s forecast for Turkey’s economy contraction in 2020 remains at 5%

The International Monetary Fund (IMF) has published its World Economic Outlook Update “A Long and Difficult Ascent” as of October2020.  In this report, IMF has decreased its forecast for the contraction in the global economy to 4.4%.

IMF however has kept its contraction forecast for the Turkish economy as -5% for 2020 and a growth of 5% for 2021. According to Turkey’s New Economic Program, growth is forecast at 0.3% for 2020.