THE International Monetary Fund (IMF) said in its latest World Economic Outlook that the global economy is recovering faster than expected and estimated a 3.7% growth rate for Turkey in 2010, after the global recession caused the countrys economy to contract 6.5% this year. IMF predicted that it expected the inflation rate in Turkey to stand at 6.2% this year before increasing to 6.8% in 2010. The report estimated that Turkeys current account deficit to gross domestic product (GDP) ratio would increase to 3.7% in 2010 from 1.9% this year. According to the twice-yearly outlook, which was announced in Istanbul ahead of the upcoming Annual Meetings of the Boards of Governors of the World Bank Group and IMF, the world economy is poised to grow by 3.1% in 2010 with much of the recovery driven by emerging economies such as China and India. For 2009, IMF projects a 1.1% decline in the global GDP instead of the 1.4% contraction it predicted in July. Turkeys quota in the IMF is expected to increase to more than 1%, giving the country the opportunity of receiving more financial aid at a lower cost under new reforms that are expected to be high on the agenda of this years meeting of the fund. Another twofold increase is expected to take place in this years meeting of the fund, increasing the quota from 1 to 1.5%. The quota increase will allow Turkey to receive more financial aid from the fund, up to €6 billion, with more flexible conditions. The cost of receiving financial aid will also decrease by a quarter. Furthermore, the influence of Turkey on IMF policy decisions will also increase, since quotas also determine countries voting power.