UNCTAD Shared The Global Growth Forecast for 2021

UNCTAD shared the global growth forecast for 2021. UNCTAD raised its forecast to 4.7 percent.

The United Nations Conference on Trade and Development (UNCTAD) stated in its report that it increased the global economic growth rate from 4.3 percent to 4.7 percent in 2021. According to the report published by UNCTAD, it was noted that during the coronavirus epidemic, the global economy is predicted to grow by 4.7 percent in 2021, as the economic recovery in the USA progressed faster than expected. In the previous report published by UNCTAD, the growth forecast was 4.3 percent. In the report in question, among the factors that were effective in increasing the growth forecast, vaccines developed against coronavirus, stimulus packages and the increase in consumer spending in the USA were listed. UNCTAD's report stated that the global economic recovery that started in the third quarter of 2020 is expected to continue to 2021 despite the political uncertainties around the world.   Turkey's Economic Outlook The report published by UNCTAD included some evaluations regarding the economic outlook of Turkey. In the report, which stated that Turkey showed a sharp contraction in the second quarter, and the economy had recovered, the growth forecast of Turkey in 2021 was announced as 4 percent. In the report, which stated that the loosening of the closures and strong financial incentives applied due to the epidemic throughout Turkey were the reason for the record growth in the third quarter, on the other hand, it was stated that the CBRT's recent increase in policy interest rates increased financial difficulties.