Moody's, an international credit rating agency, has revised its outlook on Turkey's banking sector from "negative" to "stable", while warning that challenges remain in the sector. Moody's revealed that asset and capital risk in Turkey has risen significantly, while profitability, funding, the business environment, and government support have faced some challenges, but remained generally stable.
Moody's expects economic growth to slow, and that Turkey's real GDP will grow by 4.2 percent in 2023, down from 5.6 percent in 2022, and inflation will remain at a high level of 51 percent by the end of this year, down from last year's rate of 72 percent.
Source (Al-Asharq Al-Awsat Newspaper, Edited)
