World Bank raises Türkiye’s 2025 growth forecast to 3.1%

The World Bank has raised Türkiye’s economic growth forecast for 2025 to 3.1%, up from 2.6%, according to the Europe and Central Asia Economic Update released Wednesday.

For 2026, the bank predicts Türkiye’s economy will grow by 3.6%. This revision marks an increase from the January forecast, which had projected growth at 2.6% for 2025 and 3.8% for 2026.

The report highlights a slowdown in emerging economies in Europe and Central Asia, with the region’s growth expected to decelerate to 2.5% this year and next, attributed to weakening foreign demand and slowing growth in Russia.

Economic updates for global regions

In addition, the World Bank released economic updates for several global regions, including the Middle East and North Africa, sub-Saharan Africa, and Latin America and the Caribbean.

The Middle East and North Africa region’s economy is expected to grow by 1.9% in 2024, with a projected increase to 2.6% in 2025. However, growth projections for 2026 remain uncertain due to the rapidly shifting global economic landscape.

In sub-Saharan Africa, economic resilience has been noted despite global uncertainties. The report forecasts regional growth of 3.5% in 2024, with an expected acceleration to 4.3% by 2026-2027, driven by private consumption and investment as inflation eases and currencies stabilize. However, challenges such as trade dynamics, regional conflicts, and climate change persist.

The Latin American and Caribbean region is projected to be the slowest-growing in the world, with economies growing by 2.1% in 2024 and 2.4% in 2026. The report stresses the need for countries in the region to adapt their economic strategies to address growing uncertainties.