ANKARA: Turkey’s unemployment rate is on course to surpass 11 percent in 2015 and is likely to hover around that level in the following year, the International Monetary Fund (IMF) has said.
In its latest World Economic Outlook (WEO) report, released on Tuesday, the IMF said the jobless rate in Turkey may rise from 9.9 percent in 2014 to 11.4 percent in 2015 and further to 11.6 percent in 2016.
Regarding Turkey’s expected gross domestic product (GDP) in 2015, the WEO report suggests Turkey’s economic growth is likely to increase from 2.9 percent in 2014 to 3.1 percent in 2015 and 3.6 percent in 2016. According to the WEO, the inflation rate will be at 6.6 percent in 2015 and 6.5 percent in 2016.
The IMF, citing the consequences of a strong dollar, is downgrading its outlook for the US economy but raising its forecast for Europe and Japan.
The IMF predicted that the US economy will grow 3.1 percent this year and next — a performance the fund characterized as “robust.” But the US outlook was down from the IMF’s January forecast of 3.6 percent growth in 2015 and 3.3 percent growth in 2016. The US economy advanced 2.4 percent last year.
The IMF predicted that the 18 European countries that use the euro will expand 1.5 percent in 2015 and 1.6 percent in 2016 collectively, up from a January forecast of 1.2 percent growth this year and 1.4 percent the next. The eurozone grew just 0.9 percent last year.
