Turkey could become the OECD's fastest growing economy by 2017
The Organisation for Economic Cooperation and Development has forecast in its Economic Outlook Report that Turkey will grow by 4.1% in 2017.
At a time when the 19 Eurozone member states and the OECD member countries are projected to grow on an average of 1.9% and 2.3% respectively, Turkey is expected to achieve almost double figures in 2017, according to the OEDC’s latest report.
The estimation is a sign that if the current conditions continue to apply in Turkey in the near future, its economy will continue grow, despite any pessimistic concerns regarding global growth.
According to the same Report, other economies expected to achieve high figures include South Korea (3.6%), followed by Ireland, Poland and Slovenia with 3.5%. Europe’s largest economy, Germany, is predicted to grow by as much as 2%.
On the contrary, the worst projected figures report that Japan will grow in 2017 by 0.5%, followed by Italy with 1.4% and Portugal by only 1.5%.
Turkey’s current annual growth forecast is at 3.1%, while in 2016 is expected to rise up to 3.4%.
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