Fitch Ratings announced its assessment of the Turkish economy. The credit rating agency announced that Turkey’s long-term foreign currency credit rating was upgraded from “B+” to “BB-“, while the outlook for the rating was determined as “stable”.
STATEMENT FROM MINISTER ŞİMŞEK
Treasury and Finance Minister Mehmet Şimşek commented on Fitch’s decision, “The international credit rating agency Fitch has raised our credit rating for the second time this year, from B+ to BB-. Thanks to our program that strengthens our macro financial stability and increases our resilience, we are the only country to receive a rating increase from the three major credit rating agencies in 2024. With our Medium Term Program announced this week, we will make the gains we have achieved in the last year permanent and further increase confidence in our economy.”
