Fitch revises Turkey's outlook from negative to stable
Saturday, 11 30 2019, Category: Economy, Country: Turkey
Credit ratings agency Fitch revised Turkey's outlook from "negative" to "stable" on Nov 1 and affirmed its “BB-“ rating.
The agency also revised up its GDP forecast for 2019 by 0.8 percentage points to 0.3% on the back of stronger second-quarter outturns.
Fitch maintained its GDP growth forecast of 3.1% for 2020 and 3.6% in 2021.
“Turkey has continued to make progress in rebalancing and stabilizing its economy, leading to an easing in downside risks since our previous review in July," Fitch analysts said in a note.