PASHA BANK ANNUAL REPOT 2024

In summary, 2024 was a challenging yet pivotal year for the Turkish economy in the balancing period. The decline in inflation was regarded as a successful outcome of tight monetary policies. However, these policies also constrained growth and led to shrinkage in demand in the housing sector. As of 2025, interest rate cuts are anticipated to accelerate growth and support a recovery in domestic demand. Looking ahead to 2025 and beyond, the Turkish economy is projected to sustain a robust foreign trade performance, benefit from strong tourism revenues, and achieve sustainable growth by keeping inflation under control. However, uncertainties in global markets and the effectiveness of domestic policies will play a crucial role in shaping this trajectory. ACCORDING TO THE MTP PROJECTIONS, THE CURRENT ACCOUNT DEFICIT IS EXPECTED TO DECLINE TO 1.7% OF GDP BY THE END OF 2024. current account deficit: 1.7% 25 General Information