Economy Goldman Sachs raises Turkey 2022 GDP growth to 5.5% By Reuters September 2, 2022, 5:40 AM Creative Commons Goldman Sachs says that the current market uncertainty poses significant risks Goldman Sachs said on Thursday it had raised its forecast for Turkey’s 2022 GDP growth to 5.5 percent from 3.5 percent, while lifting its 2022 current account deficit forecast to $45 billion from $36 billion. It said the Turkish Central Bank’s forex reserves had risen sharply since the third week of June and that, with less of an external funding constraint, it was updating its macro forecasts and market views. “The additional funding implies that the need to tighten policy to avoid an external funding gap has declined substantially, and we think policy-makers will use this space to support growth,” it said in a note. Data on Wednesday showed Turkey’s economy grew 7.6 percent year-on-year in the second quarter as expected, extending a hot streak on strong domestic demand and exports. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
