International credit rating agency Standard & Poor's has raised its forecast for the growth of the overall Turkish economy for 2024 to 3 percent. Fitch also upgraded Turkey's sovereign wealth fund's long-term foreign currency rating from B to B+".
The agency raised Turkey's growth forecast for 2024 by 60 basis points from 2.4 percent to 3 percent. It also raised its forecast for 2025 from 2.7 percent to 3 percent and lowered its forecast for 2026 from 3 percent to 2.8 percent.
The Turkish economy grew by 4.5 percent in 2023, exceeding expectations in the government's economic program of 4.4 percent.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
