Standard Poor’s affirmed Turkey’s credit note, did not change opinion

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S & P said in a statement, Turkey’s foreign currency credit rating of “B +”, while loans in local currency denominated notes “BB” were reported to be confirmed.

If the outlook for the country’s credit rating of “stable” registered such a statement, a new type of coronavirus (Kovid-19) Although the epidemic is estimated that the effect of promoting loans grew 0.9 percent in 2020, the economy of Turkey was specified.

S & P’s July estimates of Turkey’s economy will contract 3.3 percent in 2020, he predicted.

Estimates of the growth of Turkey’s economy in the description indicate that a significant upward revision was made, although the Kovid-19 outbreak, China, Egypt and outside of Vietnam, Turkey’s economy was transferred, it is believed to be another major emerging market economy with growth last. year.

In a statement, while signaling a return to more conventional policy from recent decisions taken in the direction of tightening monetary policy, Turkey, which accounts for 35 percent of GDP at the end of 2020, declared itself “moderate. “Net remaining that stopped the maneuver of the public debt.

Turkey’s economy, falling inflation and current account deficit are decreasing, the registered statement is expected to continue to recover, it was transferred to the short-term economic growth of the country’s external environment, and it was considered that the vaccine will depend on the application in Turkey.

The statement, which draws attention to Turkey’s monetary policy changed dramatically towards the end of 2020, the inflation rate remains high if it continues the measures taken in recent years would help to control expressed.

The statement also cited estimates related to Turkey’s economy, the economy of 3.6 percent this year, 3.5 percent in 2022, 3.3 percent in 2023 and 2024 was expected to grow 3.3 percent.

The unemployment rate in the country was estimated at 13.4 percent in 2021, 12 percent in 2022, 11.2 percent in 2023 and 11.2 percent in 2024. Inflation was forecast to be 12.5 percent this year, 8.7 percent in 2022, 8 percent in 2023, and 8 percent in 2024.

On the other hand, S&P changed Azerbaijan’s credit outlook from “negative” to “stable” and confirmed the country’s credit rating in foreign and local currency as “BB + / B”.

It was explained that the transformation of the country’s credit outlook to “stable” will be the basis for the expectation that security, financial sector and balance of payments risks related to the war with the ceasefire between Azerbaijan and Armenia will be reduced. ‘Besides…


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