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International Finance Institutions One by One Increasing Their Growth Estimates for Turkey

In recent months, international rating institutions had been revising Turkey’s growth figures in upward direction. Coulton, the head economist of Fitch Ratings – international rating institution which conformed to this trend, reported that they increased their growth estimate for 2016 for Turkey from 3% to 3.5%, and the strong data for 2015 indicates an increase in economic trends in the short term.

Brian Coulton, Head Economist of Fitch Ratings made the following comment: “we increased our growth estimate for 2016 Turkey from 3% to 3.5%. The strong data for 2015 indicates an increase in economic trends in the short term. Consumer expenses increase with the support of increase in minimum wage and law petrol prices. The status of macro policy, on the other hand, is rather loose”.

“The highest upward revision was made for Turkey”

Among developing and developed countries which are evaluated by Fitch Ratings, the highest upward revision was made for Turkey.

A 3.6% growth rate is expected for Turkey in 2017

Among all countries, the greatest downward revision was made for Russia. The growth estimate for Russia was reduced to – 1.5% from 0.5%, the growth estimate for Brasilia was reduced to – 3.5% from – 2.5%.

The next evaluation of Fitch Ratings for Turkey’s credit score and score prospect is expected to be done in August 19.

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