68799
Turkey  Rated Stable
Turkey  Rated Stable

Turkey Rated Stable

Turkey Rated Stable

The US-based credit rating agency Fitch Ratings on Friday affirmed Turkey’s credit rating at ‘BB+’ and said that its economic outlook remained stable. The country’s credit rating is a balance of “high external financing vulnerabilities” with “a long commitment to fiscal stability and strong growth performance,” the ratings agency said in a statement, Anadolu Agency reported. While Turkey’s structural indicators are “generally superior” to peer countries, its current account deficit is larger. “Higher commodity prices have caused a renewed widening of the deficit,” Fitch said, adding that “external vulnerabilities are a key credit weakness.” But Turkey’s economy rebounded strongly in the first quarter, posting 5% growth year-on-year, Fitch said, emphasizing economic growth is expected to remain above average compared with peer countries. “Turkey is a large and diversified economy with a vibrant private sector,” Fitch said. “A potentially smoother political environment, early signs of a recovery in the tourism sector and a stronger external environment should support solid performance over the forecast period,” it added. Fitch forecasts Turkey’s growth to average 4.35% between 2017 and 2019.

 

Short URL : https://goo.gl/EKR8ri
  1. https://goo.gl/e7jwrV
  • https://goo.gl/egFmas
  • https://goo.gl/sHCdTD
  • https://goo.gl/TzpPcA
  • https://goo.gl/cojzNr

You can also read ...

Close to 40% of digital transformation initiatives will be supported by AI capabilities.
The digital economy in Asia-Pacific, or APAC, is expected to...
An electronic stock indicator of a securities firm in Tokyo.
As investors come to terms with the impending end of easy...
Maersk is expanding its competitive universe to include different types of companies.
The world’s largest container company will start looking for...
Most economists would agree that Italy needs faster economic growth if it is to resolve its public debt  and banking-sector problems in an orderly manner.
Italy’s economy is growing again, but it’s still the worst...
Lloyds Profits Miss Forecasts
Lloyds Banking Group PLC raised its 2017 dividend by 20% and...
NZ Says Pacific Trade Deal Will Boost GDP
New Zealand estimates a Pacific trade deal would boost its...
CBs May Top Inflation Targets
Not only will central banks meet their inflation targets, they...
More Scots Jobless
Scotland’s unemployment rate rose to 4.5% in the final three...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus