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Macroeconomic Forecasts

Baseline Scenario*
Garanti BBVA Macroeconomic Forecasts
  2020 2021 2022 2023
CPI (eop) 14.6% 18.5% 16.0% 13.0%
GDP Growth  1.8% 9.5% 2.5% 5.0%
GDP (Billion TL) 5,047

6,673

8,106 9,633
GDP (Billion USD) 717 789 752 859
GDP Deflator 14.9% 20.8% 18.5% 13.2%
Per Capita Income (USD) 8,597 9,345 8,803 9,938
Current Account Balance (Billion USD) -35.0 -18.8 -27.7 -33.1
Current Account Balance / GDP -4.9% -2.4% -3.7% -3.8%
Foreign Trade Balance (Billion USD) -50 -46 -58 -68
Foreign Trade Balance / GDP -7.0% -5.8% -7.6% -7.9%
CG Budget Balance / GDP -3.4% -2.7% -3.7% -3.8%

*As of date 18.10.2021