Yesim Ugurlu Solaz
Yesim Ugurlu Solaz joined Garanti BBVA in September 2020 to conduct and contribute to macroeconomic research.She holds a BA degree in Economics from Bilkent University. During her bachelor’s degree, she also worked as a Teaching Assistant. She completed internships at the Ministry of Treasury and Finance and Ministry of Development.
The actual socioeconomic context has reinforced and accelerated a number of global trends, in particular sustainability and digitalization, two of the most disruptive. The empirical study conducted by BBVA Research suggests that an inverted U-shaped relationship exists between digitalization and CO2 emissions.
Industrial Production surprised on the upside in March, growing 9.6% y/y in cal. adj. terms. The weaker performance observed in early April turns out to be a recovery in the recent weeks, which increases the upside risks on our current prudent 2022 GDP growth forecast of 2.5% assuming no substantial negative shocks.
Consumer inflation increased by 7.25% mom in April, leading annual inflation to reach 70%. High commodity prices, deteriorated inflation expectations and ongoing global supply-side problems are the upside risks on our expectation anticipating inflation to hover above 70% till November before fall to 50% at the end of 2022.