The IMF revised the global economic growth by 0.4 percentage points this year. Thus, for the first time in four years, global growth has increased. It is expected that this year the world growth, which was 3.1 percent last year, this year will grow to 3.5 percent, and next year it is expected to grow to 3.6 percent.
Also, the change in asset prices and the acceleration of global growth in their prices have been revealed. The change in asset prices over the past four months of this year confirms that the global economy is on the rise.
It is reported that copper and aluminum prices have also increased over the past 4 months by 13-14%. Baltic Dry Index, reflecting the momentum of world trade, grew by 15 percent in 15 months.
For Turkey, the IMF's growth forecast for 2017 was 2.9 percent. Thus, the belief that growth will exceed this mark in the next year has also strengthened.
One of the reasons that experts make such an assumption is to increase the share of exports in the first half of the year. Data TURKSTAT and TEA for 4 months show an increase of 6.7% compared to the same period last year. The growth rate for April is also 4 percent. This means that exports are getting rid of a two-year downward trend.
The second reason for the experts' confidence is the increase in domestic demand. Credits, deferred taxes, private sector, and the return of exchange rates also began to improve the balance sheet in the private sector. In addition, consumption growth accelerated due to tax cuts.