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2021 OECD Economic Outlook, Volume 2021 Issue 2

image of OECD Economic Outlook, Volume 2021 Issue 2

The global recovery from the COVID-19 pandemic is uneven and becoming imbalanced. The OECD Economic Outlook, Volume 2021 Issue 2, highlights the continued benefits of vaccinations and strong policy support for the global economy, but also points to the risks and policy challenges arising from supply constraints and rising inflation pressures.

This issue includes a general assessment of the macroeconomic situation, and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD members as well as for selected partner economies.

English Also available in: French

Turkey

In the absence of further shocks, GDP growth is projected to be 9% in 2021 before easing to 3.3% in 2022 and 3.9% in 2023. Vaccinations have progressed fast, but certain population groups are still reluctant and the number of COVID-19 cases has increased through the autumn with the spread of more contagious variants. Inflation is very high and sticky. Recent cuts in interest rates have put further pressures on inflation expectations, the exchange rate, real household incomes and external financing.

English Also available in: French

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