Turkish Vice President Cevdet Yilmaz said on Wednesday that the Turkish government expects inflation to reach 65% by the end of 2023. According to the latest report, inflation stood at 58.94% in August. The government also projects that inflation will drop to 8.5% in 2026, he said.
The Turkish economy is forecast to grow by 4% in 2024, 4.5% in 2025, and 5% in 2026. The current account deficit to GDP ratio should fall to 4% in 2023, reaching 2.3% in 2026, according to Yilmaz. The country's exports are projected to stand at $255 billion in 2023, rising to $302.2 billion in 2026.