BGC Expects Growth in the Turkish Economy in 2020

BGC Expects Growth in the Turkish Economy in 2020

BGC Partners has released a report on the expected Turkish asset base in 2020. In the first half of 2020, growth in the Turkish economy is expected to increase as business concerns have faded, and expansionary policies of central banks have diminished. Agency forecast that Turkey is expected to experience a balanced growth of 3 percent in 2020.

Fiscal balances have deteriorated due to weak economic activity and elections despite the government’s cost-cutting measures. According to the report, a recovery in economic activity, combined with measures taken to increase the tax collected, would bring the budget deficit-to-GDP ratio in 2020 below 3 percent.

After the sharp fall in interest rates, improved demand conditions could put upward pressure on inflation. The agency expects inflation to be in double-digit lows for most of 2020, ending the year at just over 10%.

According to the report, BGC expects the Central Bank to lower interest rates in early 2020, “Only 100 basis points to bet. According to the agency, further cuts will occur if CPI inflation falls to single digits which will eventually result in the growth in the Turkish economy.

You can read more news about Turkey on our blog page.

Source: https://www.bloomberght.com/

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