Published On: Mon, Oct 2nd, 2017

Rating agencies upgrade their ratings for Turkey based on recent strong performance

Rating agencies upgrade their marks for Turkey

Some international credit rating agencies that reduced Turkey’s rating and issued negative reports about Turkey after July 15 are now revising their forecasts.  Referred rating agencies had arguments about Turkish economy and emphasized concerns about data such as convertibility of debt, open position of the real sector etc. They included arguments – not of a very promising nature obviously – in their reports about the growth Turkey was expected to achieve and so on. Whereas now one of these agencies has revised its forecast as 4.7 percent which gives the right to Turkey to ask these agencies now; “You had a strong foresight about Turkish economy. What’s happened to it?”

It is no secret that rating agencies can take a position to make an economy go down and some experts believe that is what has happened with the Turkish economy after July 15 syndrome Turkey has gone through. They comment that the country responded with a remarkable reflex to absorb the negative impacts incurred at the time due to strong positive factors originating from the income structure of household and businesses in the country, mainly.

Experts also state that the economy is on the right track again and rating agencies have started to upgrade their reports for Turkey in the positive direction obviously.

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