International credit rating agency Fitch upgrades Turkey’s credit rating

Minister of Treasury and Finance Mehmet Şimşek has provided the first evaluation regarding the international credit rating agency Fitch’s upgrade of Turkey’s credit rating. Şimşek made a statement on his social media account, saying, “In this rating upgrade that came after 12 years, Turkey’s adherence to international norms, rule-based, and predictable policies were effective.”

Minister Şimşek commented on the upgrade of Turkey’s credit rating by the international credit rating agency Fitch. Sharing his remarks on social media, Şimşek stated, “The positive outlook indicates that the upward trend in credit rating will continue in the upcoming period.”

“THE POSITIVE OUTLOOK INDICATES UPWARD TREND WILL CONTINUE IN COMING PERIOD”

Şimşek went on to say following: “The tangible results of the program we implemented have also been reflected in our country’s credit rating. The international credit rating agency Fitch, not remaining indifferent to this success, raised our credit rating by one notch while turning our outlook to positive. The positive outlook indicates that the upward trend in credit rating will continue in the upcoming period. In this rating upgrade that came after 12 years, Turkey’s adherence to international norms, rule-based, and predictable policies were effective. With further strengthening of macro-financial stability, such positive developments will continue to increase. In the second half of the year, thanks to disinflation, narrowing current account deficit, and budget discipline, macro-financial stability will further solidify, and our credit rating will rise.”

Fitch Ratings upgraded Turkey’s credit rating from “B” to “B+” while changing the outlook from “stable” to “positive.”