| Garanti BBVA Forecasts |
| |
2023 |
2024 |
2025 |
2026 |
2027 |
2028 |
2029 |
2030 |
| CPI (eop) |
64,8% |
44,4% |
31,0% |
21,0% |
18,0% |
16,0% |
15,0% |
15,0% |
| GDP Growth |
5,1% |
3,2% |
3,5% |
4,0% |
4,2% |
4,2% |
4,0% |
4,0% |
| GDP (Billion TL) |
26.546 |
43.411 |
59.965 |
77.968 |
96.499 |
117.291 |
140.654 |
168.282 |
| GDP (Billion USD) |
1.130 |
1.322 |
1.493 |
1.593 |
1.708 |
1.781 |
1.848 |
1.917 |
| GDP Deflator |
68,2% |
58,5% |
33,5% |
25,0% |
18,8% |
16,6% |
15,4% |
15,0% |
| Per Capita Income (USD) |
13.243 |
15.450 |
17.356 |
18.432 |
19.668 |
20.411 |
21.090 |
21.788 |
| 2-year Benchmark Bond Yield (eop, compound) |
39,7% |
40,6% |
32,0% |
25,0% |
22,0% |
20,4% |
19,6% |
19,5% |
| CBRT One-Week Repo Rate (eop) |
42,5% |
47,5% |
36,0% |
25,0% |
20,0% |
18,0% |
18,0% |
18,0% |
| CBRT Funding Rate (average) |
20,5% |
49,6% |
43,1% |
29,0% |
22,0% |
18,9% |
18,0% |
18,0% |
| USDTRY (eop) |
29,44 |
35,28 |
45,00 |
52,00 |
60,00 |
70,50 |
80,50 |
93,50 |
| USDTRY (average) |
23,74 |
32,80 |
40,00 |
48,79 |
56,33 |
65,69 |
75,92 |
87,54 |
| EUROTRY (eop) |
32,57 |
36,74 |
51,90 |
61,54 |
72,03 |
84,63 |
96,64 |
112,24 |
| EUROTRY (average) |
25,68 |
35,49 |
44,91 |
57,11 |
67,26 |
78,86 |
91,14 |
105,09 |
| Currency Basket (eop) |
31,01 |
36,01 |
48,45 |
56,77 |
66,01 |
77,57 |
88,57 |
102,87 |
| Currency Basket (average) |
24,71 |
34,15 |
42,45 |
52,95 |
61,80 |
72,27 |
83,53 |
96,32 |
| Parity (eop) |
1,11 |
1,04 |
1,15 |
1,18 |
1,20 |
1,20 |
1,20 |
1,20 |
| Current Account Balance (Billion USD) |
-40,5 |
-10,0 |
-19,9 |
-34,7 |
-41,1 |
-44,9 |
-45,0 |
-45,9 |
| Current Account Balance/GDP |
-3,6% |
-0,8% |
-1,3% |
-2,2% |
-2,4% |
-2,5% |
-2,4% |
-2,4% |
| Foreign Trade Balance (Billion USD) |
-106 |
-82 |
-105 |
-125 |
-138 |
-146 |
-150 |
-155 |
| Foreign Trade Balance/GDP |
-9,4% |
-6,2% |
-7,0% |
-7,9% |
-8,1% |
-8,2% |
-8,1% |
-8,1% |
| Unemployment Rate |
9,4% |
8,8% |
9,0% |
10,0% |
10,3% |
10,5% |
10,5% |
10,5% |
| CG Primary Balance/GDP |
-2,6% |
-1,9% |
-0,8% |
-0,5% |
-0,3% |
-0,1% |
0,0% |
0,1% |
| CG Budget Balance/GDP |
-5,2% |
-4,9% |
-4,0% |
-3,6% |
-3,3% |
-3,2% |
-3,1% |
-3,0% |