Turkey’s economy is expected to contract by 0.6 percent this year, according to a monthly central bank survey, as participants revised down their predictions sharply for output due to the COVID-19 outbreak.

The average estimate in the central bank survey, which included 89 people from the finance industry, business world and other professional classes, fell from a prediction of 3.3 percent economic growth made in March. It stands in contrast to the government’s goal of 5 percent economic growth, which has yet to be revised.

The central bank’s survey, which it uses to help set monetary policy, did not predict an annual economic contraction even during a currency crisis in the summer of 2018. Monetary policymakers meet on Wednesday to decide on interest rates, with some economists predicting a rate cut from the current level of 9.75 percent.

Consumer price inflation in Turkey was seen at 9.76 percent by the year-end compared with 9.98 percent in the same survey in March. The current account deficit was expected to total $6.05 billion, less than the $12 billion predicted last month.

Inflation in Turkey stands at 11.9 percent.