Turkey’s Credit Rating Upgraded After Eight Years
In the latest assessment by a reputable Japanese rating agency, Turkey’s long-term credit rating has been increased for the first time in eight years. This upgrade is attributed to the implementation of policies aimed at macroeconomic stability, including controlling inflation and maintaining fiscal discipline.
According to the report, Turkey’s economic growth is expected to continue at a sustainable level. A reduction in the current account deficit, improvement in foreign exchange reserves, and an increase in capital inflows have also been significant factors in reducing the country’s external vulnerabilities.
Turkey’s financial sector, with its strong capital base and adequate profitability, has played an effective role in maintaining economic stability. In the area of public finance, despite the expenditures resulting from the earthquake, the budget deficit has decreased, and the low ratio of public debt to gross domestic product has contributed to the country’s debt sustainability.
