According to the World Bank's latest Turkey Regular Economic Brief issued on July 3 in Ankara, Turkey's economic growth in 2013 is forecast to remain below trend at an estimated 3.6 percent. The brief links moderate growth prospects to persistent global uncertainty and the recent tightening of international liquidity, while pointing to signs of a revival in the domestic demand. The Turkish government's new development plan provides an opportunity to deepen structural reforms and thus mitigate external risks and increase potential growth growing forward, according to the World Bank.
The World Bank's country director for Turkey, Martin Raiser, said that Turkey experienced a moderate economic recovery in 2012, adding that the country had been negatively affected by the economic crisis in the European Union, which still has a lion's share in Turkey's overall trade at more than 40 percent.
