| Baseline Scenario* |
| Garanti BBVA Macroeconomic Forecasts |
| |
2020 |
2021 |
2022 |
2023 |
| CPI (eop) |
14,6% |
17,0% |
13,0% |
11,0% |
| GDP Growth |
1,8% |
9,0% |
4,0% |
5,0% |
| GDP (Billion TL) |
5.048 |
6.622 |
7.923 |
9.244 |
| GDP (Billion USD) |
719 |
789 |
798 |
833 |
| Deflator |
14,8% |
20,3% |
15,0% |
11,1% |
| Per Capita Income (USD) |
8.619 |
9.346 |
9.348 |
9.638 |
| CBRT One-Week Repo Rate (eop) |
17,0% |
18,0% |
14,5% |
12,5% |
| TL/USD (eop) |
7,42 |
9,50 |
10,25 |
11,25 |
| TL/EURO (eop) |
9,12 |
11,56 |
12,59 |
13,94 |
| EURO/USD Parity (eop) |
1,23 |
1,22 |
1,23 |
1,24 |
| Current Account Balance (Billion USD) |
-36,7 |
-18,4 |
-16,7 |
-28,4 |
| Current Account Balance/GDP |
-5,1% |
-2,3% |
-2,1% |
-3,4% |
| Foreign Trade Balance (Billion USD) |
-50 |
-46 |
-51 |
-64 |
| Foreign Trade Balance/GDP |
-6,9% |
-5,9% |
-6,3% |
-7,7% |
| CG Budget Balance/GDP |
-3,5% |
-3,4% |
-3,9% |
-3,8% |