The Outlook on Turkey’s Credit Rating Upgraded to “Stable” by Standard & Poor’s International

Standard & Poor’s International announced that it has upgraded the outlook on Turkey’s credit rating from “negative” to “stable”.

In a statement, the agency said it had affirmed Turkey’s credit rating at ‘B’ and raised its future outlook to ‘stable’ from ‘negative’ due to a ‘policy change’.

Economic Measures Taken by Turkey

Turkey’s new economic administration has raised interest rates by 21.5 points to 30 percent since June to combat inflation and lower the exchange rate, and introduced some indirect taxes to achieve fiscal balance, the statement said.

Growth Expectations

The agency stated that Turkey’s economy is expected to grow 3.5 percent this year and 2.3 percent next year.

Source: Anatolia