The world economy is changing and according to Moody (International Credit Rating Agency) growth in Turkey has been much better than predicted for 2019 with an increase from minus 2 to +0.2%, and this has mainly been attributed to the positive changes that were made to fiscal policies, Investments and Citizenship requirements. Looking to the future, it continues to be bright with forecasts of 2% to 3% in 2020 and 3% in 2021.
The report by Moody goes on to mention that global growth, though set to remain weak in 2020/2021 was not expected to enter recession during this time.
Looking towards G-20 countries the expectation is a growth of 2.6% in 2019-2020 and 2.8% in 2021, whilst the US and Chinese economies are both expected to decrease, but by how much wasn’t confirmed.
An increase was also expected for the Euro Zone of 1.2% in 2020, and 1.4 in 2021, and developing countries were showing a growth of 4.6% in 2020 and 4.8% in 2021.
