The European Bank for Reconstruction and Development (EBRD) expects Türkiye’s economy to grow by 2.8% in 2025, a downgrade from its February 2025 forecast, due to weaker domestic and external demand and a tighter-than-expected monetary policy.
The Bank expects the Turkish economy to grow by 3.5% in 2026, unchanged from its previous forecast.
The projections have been published today in the Bank’s Regional Economic Prospects report, which revised the EBRD’s aggregate 2025 growth forecast for its regions of operation down by 0.2% to 3%. The downgrade reflects heightened global policy uncertainty, weaker external demand, and both the direct and indirect effects of recently announced increases in import tariffs, the report reads.
"Türkiye’s downward revision reflects expectations of tighter domestic financial conditions as heightened uncertainty weighs on domestic demand, as well as weakening external demand due to increased uncertainty around global trade policy. Downside risks stem from still-high inflation and the impact of tighter-for-longer global financial conditions on Türkiye’s substantial short-term external financing needs," - EBRD says in statement.
The report notes recent improvements in the economy’s external position, with net exports rising and the current account deficit declining steadily in the 12 months to February 2025. However, inflows of foreign direct investment (FDI) remained relatively low at $12.2 billion (€10.8 billion).
The EBRD invested a record €2.6 billion in Türkiye in 2024, driven by the private sector’s appetite for green investments and the Bank’s continuing support for regions affected by the February 2023 earthquakes.
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The European Bank for Reconstruction and Development (EBRD) has announced a loan of up to $25 million to support energy-efficiency upgrades at Tashkent Pipe Plant (TPP), one of Uzbekistan’s leading private steel producers.
Tajikistan has strengthened its position as one of Central Asia’s fastest-growing economies. According to the European Bank for Reconstruction and Development (EBRD), the trend is supported by investment activity, industrial expansion and large-scale infrastructure projects.
The European Bank for Reconstruction and Development (EBRD) has provided a €500 million loan (almost $590 million) to the national gas company Naftogaz (NAK) for emergency gas purchases for Ukraine.
The European Bank for Reconstruction and Development (EBRD) has announced a lending the equivalent of $7 million to Saloğlu, Azerbaijan’s leading furniture producer and retailer, in local currency to help boost its competitiveness.
The 4th Shusha Global Media Forum will bring together nearly 160 media leaders, experts and officials from 54 countries in Azerbaijan's historic city of Shusha on 13-14 July, to discuss journalism’s role in peacebuilding, restoring public trust and tackling challenges.
Typhoon Bavi, the strongest storm to hit the eastern coast of mainland China this year, brought heavy rain, strong winds, flooding and landslides after making landfall in Zhejiang province on Sunday. More than 2.8 million people were evacuated to safety ahead of the storm.
President Ilham Aliyev is holding his annual question-and-answer session with international journalists at the 4th Shusha Global Media Forum in Azerbaijan.
The United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claims it has once again closed the Strait of Hormuz, a vital global shipping route.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 13th of July, covering the latest developments you need to know.
Oil prices rose nearly 3% on Tuesday to their highest level in four weeks as the United States and Iran stepped up attacks around the Strait of Hormuz, adding fresh uncertainty to global energy supplies.
China has approved fast-fashion retailer Shein's long-awaited initial public offering (IPO) in Hong Kong, clearing the way for the company to pursue a stock market listing after previous attempts in the U.S. and London failed.
European carmakers have urged the European Union to make sure new “Made in EU” rules do not put existing investments in Türkiye and Morocco at risk.
Microsoft is expected to announce a new round of job cuts as early as next week as the technology giant looks to reduce costs, according to reports.
A Swedish court has ordered Alphabet-owned Google to pay about $1.5 billion in antitrust damages to price comparison platform PriceRunner, in one of Europe's largest competition-related awards against a major technology company.
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