24.01.2026 12:20
The credit rating agency Fitch Ratings has changed Turkey's credit rating outlook to positive. In a statement regarding the matter, Treasury and Finance Minister Şimşek said, "This development indicates that there may be a rating increase in the upcoming period."
Fitch Ratings, which published its assessment of the Turkish economy, confirmed Turkey's credit rating as "BB-" while changing the credit rating outlook from "stable" to "positive".
"THREE POSITIVE DEVELOPMENTS"
In a statement titled "Three Positive Developments" on his social media account, Minister of Treasury and Finance Mehmet Şimşek stated regarding Fitch's decision, "The credit rating agency Fitch has changed our country's credit rating outlook to positive. This development indicates that there may be a rating increase in the upcoming period."
Şimşek's statement continued as follows:
"With the expiration of all maturities of the Currency Protected Deposit, which is an important conditional obligation, the regulations regarding this practice have been abolished.
Additionally, reserve requirement ratios have been increased to limit short-term foreign capital inflows.
We continue to reduce the vulnerabilities of our economy and strengthen macro-financial stability with our program."
FITCH: INFLATION IS EXPECTED TO FALL TO 19.5% BY THE END OF 2027
On the other hand, Fitch's statement noted that Turkey's credit rating is supported by its large and diversified economy, low public debt, and history of maintaining access to external financing, while also addressing issues that put pressure on the credit rating. The statement indicated that the real policy interest rate in Turkey is projected to be 4.5% by the end of 2026 and 2% by the end of 2027, and that inflation is expected to fall to 19.5% by the end of 2027.
"TURKEY'S ECONOMY IS EXPECTED TO GROW BY 3.5% THIS YEAR"
The statement also addressed growth expectations for the Turkish economy, reporting that the gross domestic product (GDP) growth in the country is expected to be 3.5% in 2026 and 4.2% in 2027.
The statement noted that Turkey's credit rating could be upgraded if there is an increase in confidence regarding the sustainability of the policy framework supporting a permanent decline in inflation, a significant strengthening of external buffers, a permanent decrease in the need for external financing, and a reduction in political shock risk or steps taken to strengthen governance and institutional capacity.