6/11/2021

Fitch Upgrades Turkey’s GDP Forecast

The US-based credit rating agency Fitch Ratings forecasts Turkey's gross domestic product (GDP) to rise 6.7 percent in 2021 and 4.7 percent in 2022 on its webinar titled “Fitch on Turkey: A Sovereign and Financial Institutions Overview".

Turkey's credit rating is supported by its moderate government and household debt, large and diversified economy, and favorable GDP per capita and trend growth, according to Fitch.

Previously, releasing a statement on February 19, Fitch had revised upwards its GDP forecasts for Turkey to 5.6 percent from 5.4 percent in 2021 and to 4.7 percent from 4.6 percent in 2022, and revised up Turkey's outlook from “negative" to “stable".​

GDP; Fitch Ratings