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A big challenge waiting the Turkish economy in 2016

With raising of the terror attacks all over the world Turkey  surffer’s from both the PKK and ISIS attacks. Ii was followed by The Russians 24-jet crashed by the Turkish army which causes a big damage and affected the business agreement and tourism sector in the two countries, in addition to the crisis of the Syrian Refugee where the refugee number passes 2.7 million. All these affected badly the global economy in general and especially The Turkish Economy.

Due to supporting The Turkish economy President Ardoğan pushed up this year new plans. He will cover The Africa’s Continent and increase the trade volume with the Latin Americas countries, besides The Arab Countries.

 International Monetary Fund (IMF)’s report

 

  • According to The International Monetary Fund (IMF)’s report the Turkish economy growth this year is expected to Swings between 3.2 and 3.8 percent with increase in the minimum wage 30% which the government has made. On the 1st of February 2016 a team from (IMF) visited Turkey for the annual evaluation economy, the report shows that Turkey’s growth last year was stronger than this year and Domestic demand is expected to continue to drive growth this year. The economy was estimated to have grown by 3.8 percent last year, driven by domestic demand. The economy growth needs for the external financing will remain high in Turkey and may the Inflation rate will exceed 5% according to the (IMF)’s report.

    Global growth

  • Global growth 3.2 percent this year down from the 3.4 percent. The U.S to 2.4 percent from 2.6 percent. Japan to 0.5 percent from 1 percent. the 19-country Euro Zone to 1.5 percent from 1.7 percent. The IMF boosted its growth forecast for China to 6.5 percent from 6.3 percent. And the IMF saw Global Slowdown continuing into 2017, while China is expected to grow at a 5.2 percent pace.