World Bank estimates Turkey's growth rate at %3.6 in 2013

World Bank (WB) estimated Turkey's GDP to expand about 3.6 percent this year and strengthen to 4.5 percent and 4.7 percent in 2014 and 2015.

According to WB's Global Economic Prospects Report, Global GDP is expected to expand about 2.2 percent this year and strengthen to 3.0 percent and 3.3 percent in 2014 and 2015.

WB expected Turkey's GDP growth rate 3.6 percent in this year because of loose macro economic policy; however, WB had expected Turkey's growth at 4 percent in the Global Economic Prospects Report in last January.

The report said loosening fiscal policy in Turkey resulted in a surge in inflation rate up at 9.7 percent in the first quarter of 2013 with a core inflation rate of 6.5 percent. 

Adapted from Worldbulletin