Türkiye is on road to recovery, economist Steve Hanke says
Steve Hanke (Screengrab via Youtube)
World-renowned economist Steve Hanke has shared optimistic projections about Türkiye’s economy, forecasting a significant rise in per capita gross domestic product (GDP) by 2026.
Türkiye’s economy on rise with projected growth by 2026
Hanke took to his social media account to announce his analysis, sparking widespread discussion. In his post, Hanke predicted that Türkiye’s GDP per capita would climb to $16,520 by 2026, an increase from its current level in 2023.
“According to Trading Economics data, Türkiye’s per capita GDP reached an all-time high of $14,630 in 2023 and is projected to rise to $16,520 by 2026,” Hanke stated in his X account post.
Inflation measurement using high-frequency data
In addition to his GDP prediction, Hanke provided an accurate assessment of Türkiye’s current inflation rate, using high-frequency data to track the economic trend.
“Today, using high-frequency data, I accurately measure Türkiye’s annual inflation rate at 28.8%. Türkiye is emerging from the shadows,” Hanke wrote, indicating that the country’s economic situation may be improving despite high inflation.
Hanke’s post quickly garnered hundreds of shares and comments on X, drawing attention from economic observers both in Türkiye and abroad.
With global attention on Türkiye’s economic performance, Hanke’s forecasts offer another glimpse into the potential growth and stabilization of the Turkish economy in the coming years.
