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World Bank slashes 2020 growth expectation for Turkey: report

Photo by M. B. M. (Unsplash)

The World Bank has slashed its 2020 growth forecast for Turkey, decreasing its expectation from 3 percent to 0.5 percent, according to the Dünya news website.

The coronavirus pandemic has already affected world economies and is expected to inflict the most damage on emerging markets like Turkey.

According to the World Bank, the Turkish economy will grow 4 percent in 2021 and 2022, if the impact of the coronavirus is handled well.

The inflation expectation for Turkey also increased to 11 percent for yearend, with a projection of 9 percent for 2021 and 8.5 percent for 2022.

Turkey had 38,226 confirmed cases of the novel coronavirus as of Wednesday, and the death toll stands at 812.

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