Moody's increases Turkiye's economic growth outlook for 2022

Moody's has increased the outlook for Turkiye's economic growth this year to 5.3% from the previous 4.5%, Turkish newspaper Aydinlik said.

According to Report, the GDP growth forecast for Turkiye is confirmed at 2% for 2023 and at 3% for 2024.

According to the earlier reports of the national statistics institute, the annual inflation in the country accelerated to 85.51% from 83.45% in September.

The growth in consumer prices made 3.54% within a month.

The Central Bank of Turkiye kept the rate unchanged at 14% for a long time this year, but then shifted to reduction. In October, the rate was reduced from 12% to 10.5%. The Turkish currency is gradually weakening - while in late January, the currency rate was around 13.5 liras per dollar, in late February, it reached 14 liras and is now 18.6 liras.