Turkey receives praise from Fitch for lowering CAD and inflation
The economical performance Turkey has been displaying recently has been verified by another global agency to pave the way to an increase in credit note.
The Fitch Group, a global rating agency based in both London and New York has declared that Turkey stands chances of being granted a better credit note thanks to its perfomance in current account deficit and inflation figures.
The agency stated that Turkey’s credit note might rise from BB+ to BBB- if the current account deficit of Turkey continues to decrease and the inflation drops to the targeted level.
Fitch also verified in its report published on Thursday that Turkey had been improving for a sustainable growth, the current account deficit was shrinking and the inflation dropped as well. These findings are to support and motivate the Turkish government in power at the moment as they claim to have been quite succesful in matters related to economy.
Furthermore, also expressed that they are not expecting any recession in the country, stating that they expect Turkey to undertake a growth of 2.8 percent in 2012 and 4.5 percent in 2013.
We would like to emphasize here that we believe it is worth reminding these figures could realize provided Turkey does not have to livee through another major global crisis which is not a remote possibility based on the evaluation of current difficulties EU has been experiencing.
24.08.2012
Editor, BTT
