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Fitch has updated its growth forecasts for Turkey

International Credit Rating Agency, “Global Economic Outlook” report, Turkey’s 6.7 percent in 2021, and in 2022 it was expected to record 4.7 percent growth.

The international credit rating agency Fitch Ratings, the profit growth forecast for 2021 from 3.5 Turkey 6.7 percent, while the growth forecast for 2022 from 4.5 to 4.7 percent increase was announced.

Credit rating agency, “Global Economic Outlook” report, Turkey’s 6.7 percent in 2021, and in 2022 it was expected to record 4.7 percent growth.

In its previous report published in December 2020, Fitch Ratings stated that the country is expected to grow 3.5 percent in 2021 and 4.5 percent in 2022.

In the latest report, Turkey’s 2020 saw growth of 1.8 percent from credit rating agencies, rising above the 0.2 percent estimate, it was noted that Turkey’s place in the economy grew with China.

In Fitch’s report, strong monetary and credit support, to support the resilience of Turkey’s economy in 2020, but emphasized that the end of the year caused inflation to rise to 14 percent.

On the other hand, the report, 11.5 percent at the end of 2021, inflation in Turkey by the end of 2022 is expected to decline to a level of 9.2 percent.

THE GLOBAL GROWTH FORECAST HAS ALSO INCREASED

In the credit rating agency report, it was stated that global economic growth increased from 5.3 percent to 6.1 percent by 2021.

In the report, it was stated that the US economy growth forecast for 2021 increased from 4.5 to 6.2 percent, and that China’s growth forecast for the same year increased from 8 percent to 8.4.

In the credit rating agency report, it was noted that the euro zone growth forecast for 2021 was unchanged at 4.7 percent.

The report also noted that the 2021 growth forecast for emerging economies excluding China increased from 5 percent to 6.0.

Fitch Ratings chief economist Brian Coulton, whose assessments are included in the report, “The epidemic is not over yet, but it appears that we have entered the last phase of the economic crisis.”

The credit rating agency said Turkey’s credit rating and rating outlook on February 19, 2021, 5.7 percent of the country’s economy in 2021, while 2022 is expected to record record growth of the 4.7 percent.

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