Fitch says their confidence in Turkey’s improving growth is getting stronger

Fitch says their confidence in Turkey’s improving growth is getting stronger
Posted on: 6 Mar 2020

After all difficulties Turkey’s economy has recently gone through, it was pleasing to hear a good comment from Fitch, int’l credit rating agency in regards. Making a statement about the issue, an official from said establishment pointed out that their confidence in improving growth of Turkey was stronger now.

Turkey’s performance, which returned to the path of growth in the third quarter of last year with the measures taken after the exchange rate attack against the country’s economy, has also come under the radar of foreign establishments. A director at Fitch Ratings, said there was more confidence in Turkey’s near-term growth recovery, raising its growth forecast for 2020 from 3.1 per cent to 3.9 per cent and for 2021 from 3.6 per cent to 4 per cent.

He went on to say “At the same time, we expect investments to return to growth this year and to record a 3 percent increase. If we see better progress on the New Economy Program, this will help Turkey’s ratings”. The official also said 2020 could even be an opportunity for reforms adding it would help Turkey’s rating if they observed better progress on the New Economy Program.

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