18.07.2026 09:30
Fitch Ratings announced its assessment of the Turkish economy. The assessment stated that Turkey's long-term credit rating was confirmed as "BB-" and the outlook was "stable".
Fitch Ratings announced its assessment of the Turkish economy.
In a statement from the credit rating agency, it was reported that Turkey's long-term credit rating was confirmed at "BB-" and the rating outlook was "stable."
The statement indicated that Turkey's low public debt, large and diversified economy, high per capita income compared to the median of countries in the "BB" rating group, a track record of maintaining access to external financing during stress periods, and a resilient banking sector are among the factors supporting the credit rating.
GROWTH AND INFLATION EXPECTATIONS ANNOUNCED
In the statement, which conveyed that Turkey's potential growth rate is assessed to be close to 4 percent, the growth rate is expected to be 2.8 percent this year and 4.4 percent next year.
The statement noted that inflation in Turkey is expected to decline from 32 percent in June to 29.5 percent by the end of 2026.
The statement noted that the Central Bank of the Republic of Turkey's (CBRT) increase in funding costs by 300 basis points and recent steps to tighten credit limits supported a partial recovery in international reserves following foreign exchange interventions aimed at stabilizing the lira during the initial phase of the US-Iran conflict, and stated that gross foreign exchange reserves are expected to reach $167 billion by the end of 2026.
The statement indicated that a significant strengthening of the country's external buffers, particularly with a sustainable reduction in external financing needs, and increased confidence that the tight policy stance supporting the decline in inflation will be maintained, could lead to an upgrade in the credit rating.