Moody's did not change its growth forecast for Türkiye, but raised its inflation expectation

International credit rating agency Moody's did not change its 2022 and 2023 growth estimates for Turkey in its "Global Marko Outlook 2022-23 report" published today in its May update, but increased its inflation expectation for 2022. Moody's, which maintained its 2022 and 2023 GDP growth estimates for the Turkish economy at 3.5 and 4.0 percent, increased its inflation estimate for the end of 2022 to 52.1 percent from 35 percent in its March update. Moody's maintained its inflation expectation for the end of 2023 at 30.0 percent.