Goldman Sachs raised its inflation forecast in Turkey

Multinational Goldman Sachs, a US investment bank, announced by Turkey’s revised inflation forecast to rise to 18 percent in April. The giant bank predicted that it will close the year 2021 at the level of 15 percent.

Turkey’s economy, which revised estimates on Goldman Sachs in Turkey in April, inflation will rise to 18% this year and predicts 15% off.

The new head of the Central Bank, Şahap Kavcıoğlu, said that the new head of the Central Bank, Şahap Kavcıoğlu, would not be able to cut interest rates until the last quarter of the year, considering that the Turkish lira has lost 13% since the bank took office, which had an inflation expectation of 12.5% ​​for the previous year.

Goldman Sachs Turkey’s growth forecast for 2021 at 5.5% to 3.5%, the current account deficit to gross domestic product (GDP) of 3.5% is forecast for the rate dropped to 1.5%.

In the report sent by the bank to its customers, it was stated, “The possibility of the authorities to try to increase growth by lowering interest rates early or by borrowing poses a risk to our forecasts.”