November 25, 2022 — The following interview appears today in Ekonomi Gazetesi (in Turkish), Elif Karaca.
1) How do you see the state of the global economy in 2023? What about its reflections on Turkey?
JF: Contrary to most of what one hears, it is not certain that the world will go into recession in 2023, nor that the US will. But the risk of a recession is certainly greater than usual, or at least a global slowdown, due mostly to the increases in interest rates that most central banks are finding necessary in response to high inflation. Higher global interest rates and slowing growth of course make things more difficult for Turkey, as do the high oil prices that resulted from the Russian invasion of Ukraine.