Turkey 2021 forecasts

It is not easy to forecast the next year, when the nastiest epidemic since the Spanish Flu is raging across our old Planet. Forecast, we must do, nevertheless, because it is our job. The epidemic in Turkey will not be over before the winter of 2021. Bad loans clog bank balance sheets, as broad-based unemployment soared to 23%. Turks won’t have the jobs or the money to spend. Thus, Real Turkey Channel expects very little growth. As counter-sensical as it may sound, even a recession will not cure Turkey’s chronic double-digit inflation. On the positive side, current account deficits will shrink substantially, averting currency crisis. The joker is relations with the West, which may impose additional sanctions on Turkey, undermining economic sentiment.

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