Moody’s, the international credit rating agency, raised its forecast for the growth of the Turkish economy for 2023 from 2.6 to 4.2%, and for 2024 from 2 to 3%.

According to a report issued Thursday on global macroeconomic forecasts, Moody’s expected the Turkish economy to grow 4.2% this year, and 3% in 2024.

In its report issued last May, the IAEA expected the Turkish economy to grow by 2.6% in 2023 and 2% next year.

The IAEA indicated that economic activity in many countries exceeded expectations in the first half of 2023, including the United States, the United Kingdom, Canada, France, Brazil, Mexico, India and Türkiye.

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