24 June, 2009 06:05:00

OECD expectations for 2009-2010

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The Organization for Economic Cooperation and Development anticipates that the Turkish economy will face a 5.9% recession this year, prior to a recovery which is expected for 2010.

According to the OECD June 2009 Outlook Report, due to the effects of the global economic recession, the drop in internal demand which resulted in the constriction in Turkey’s economy in 2008, is anticipated to continue with a 5.9% reduction by the end of the year. The OECD also forecast that next year, the Turkish economy will see growth at 2.6%.

The report also reveals that anticipated unemployment rates for this year are at 15.4%, while next year it is foreseen this figure may increase to 16.4%. The consumer price index for 2009 is anticipated to be at 6.3%, while for 2010 it is expected to be at 5.9%.   
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