May 7, 2023

The World Bank revised its forecast for the growth of the Turkish economy for the year 2023, expecting it to grow by 3.2 instead of 2.7 percent.

This came in a report published, Thursday, on the outlook for the economies of the Europe and Central Asia region.

The statement indicated that the Turkish economy will grow by 3.2 percent this year, instead of previous expectations that indicated a growth of only 2.7 percent, and 4.3 percent in 2024 instead of 4 percent.

The World Bank also expected the Turkish economy to grow by 4.1 percent in 2025.

The international report predicted that the earthquake that struck Turkey last February would cause losses of about $34.2 billion.

On February 6, a 7.7-magnitude earthquake hit southern Turkey and northern Syria, followed by another with a magnitude of 7.6, followed by thousands of violent aftershocks, leaving thousands dead and causing great economic destruction.

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