Positive Outlook for the Turkish Economy in 2024

Positive Outlook for the Turkish Economy in 2024


Estimates from international economic institutions, including credit rating agencies and economic experts, suggest that 2024 will be a promising year for the Turkish economy.

Since the third quarter of 2023, international institutions and foreign investment banks have adjusted their expectations for Turkey "positively." This adjustment follows the new economic administration's policies and the stringent measures taken by the Turkish Central Bank in its monetary and fiscal policies.


Strategic Vision

The latest statements about the expected rise in the Turkish economy in 2024 came from Timothy Ash, a strategic expert in emerging markets at "Bluebay" Asset Management. In an interview during the TRT World Forum in Istanbul, Ash affirmed that "positive developments" await the Turkish economy in 2024.


Positive Transformations

The confirmation of positive changes in the economic administration and the restoration of confidence in Turkey are seen as supportive factors for the return of technological investments to the country. Ash indicates that international investors express their readiness to return, especially with expectations of lira stability next year and the anticipated start of the inflation decline process.


New Economic Stability

Recent times were marked by the absence of overall economic stability. However, with the new economic team and restored confidence in Turkey, Ash sees comprehensive and convincing policies playing a pivotal role.

In June of the past year, Turkish President Recep Tayyip Erdoğan announced the formation of the new presidential government following his inauguration for a new term.


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Step Toward Stability

The new Minister of Treasury and Finance, Mehmet Şimşek, who previously served as Minister of Finance and Deputy Prime Minister for Economic Affairs from 2009 to 2018, took charge of the economy. Şimşek gained significant appreciation from investors during his previous government roles.


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