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14-08-21
Fitch revises Turkey's 2021 growth forecast to 7.9 percent
(MENAFN) With a stable outlook, Fitch Ratings stated Turkey's credit rating at 'BB-' on Friday.
According to the global rating agency, "Turkey's ratings reflect weak monetary policy credibility, high inflation, low external liquidity in the context of high financing requirements and geopolitical risks."
It estimates inflation to facilitate to 16.9 percent by the end of the year based on a favorable base effect and decelerating domestic demand, Fitch further declared.
The agency altered Turkey's 2021 growth prediction up to 7.9 percent, from its last estimate of 6.3 percent in June, as a result to a strong performance in the first three months and remained resilience in economic activity.
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