While the economic management has been taking important steps for a while within the scope of combating inflation, these steps continue to bear fruit.
Accordingly, while international organizations made successive improvements regarding Turkey’s rating throughout the year, macroeconomic data continues to give positive signals within the framework of the policies followed.
In particular, the improvement in the balance of payments, the increase in foreign exchange reserves to record levels and the normalization steps taken by economic institutions, especially the Central Bank of the Republic of Turkey (CBRT), are welcomed positively in the markets.
While these developments continue to feed foreign interest in Turkish lira (TL) assets, Turkey’s borrowing costs are also declining.
Accordingly, Turkey’s 5-year CDS decreased to 249.8 on the last trading day of the week. The level in question marks the lowest since February 2020.
