ISTANBUL, Jan. 28 (Xinhua) — Following a rough year marked by the fallout of the coronavirus pandemic, Turkey’s economic outlook is slowly improving, but costly food prices remain a burden for much of the population.
The International Monetary Fund (IMF) said on Monday that it expects Turkey’s economy to expand by around 6 percent in 2021 with the roll-out of a vaccine and recovery of trading partner growth.
“Inflation is expected to fall modestly by end-2021… and the current account deficit is expected to fall to 3.5 percent of GDP, in large part reflecting lower gold imports and a modest recovery of tourism,” it said.
Turkey’s gross domestic products (GDP) increased to a more-than-expected 6.7 percent growth rate in the third…