In Türkiye, growth is projected to weaken to 2.8 percent this year as higher energy and food costs weigh on consumption and keep borrowing costs elevated, the World Bank said in its latest regional economic update unveiled on April 8.
Growth is projected to firm to 3.7 percent in 2027 as policies become more accommodative amid continued disinflation, supporting a recovery in consumption and investment, according to the report.
The bank's January projections forecast that the Turkish economy would expand by 3.7 percent in 2026 and 4.4 percent in 2027.
Türkiye’s economy has undergone substantial structural transformation in recent decades, marked by substantial economic and social gains, including high growth and poverty reduction, the report said.
“Türkiye’s achievements reflect decades of structural transformation, integration into global markets, and a resilient private sector,” it added.
“These changes notwithstanding, more needs to be done to facilitate the transition toward higher-level technology and knowledge intensive production, as the share of high-tech products in manufacturing exports has remained broadly unchanged over the past decade [around 5 percent] and below peer or aspirational comparators,” the report said.
The 2030 Industry and Technology Strategy is well placed to address this challenge and support Türkiye’s transition to high-income status, with the goal of positioning Türkiye as a global leader in innovation, advanced manufacturing, and high-tech industries, it added.
