Fitch raises Turkey's growth forecast to 4.7 percent in 2017
Fitch Ratings revised upward Turkey's forecast Monday, pointing to strong first-quarter results that showed 5 percent growth from the same quarter a year ago.
"A potentially smoother political environment, with the referendum complete and the next elections not due until November 2019, should support a strengthening of investment and consumption through mid-2019," the report said.
The agency now estimates the Turkish economy will expand 4.7 percent in 2017 and 4.1 percent next year.
After growing 2.9 percent last year, Fitch said in March it anticipated the Turkish economy to grow by 2.3 percent in 2017 and 1.3 percent in 2018.
Meanwhile, global economic growth is expected to rise from 2.5 percent last year to 2.9 percent in 2017 and 3.1 percent in 2018, highest rate since 2010.
"Faster growth this year reflects a synchronized improvement across both advanced and emerging market economies," Fitch said in its Global Economic Outlook report.
source: Daily Sabah
20.06.2017
"A potentially smoother political environment, with the referendum complete and the next elections not due until November 2019, should support a strengthening of investment and consumption through mid-2019," the report said.
The agency now estimates the Turkish economy will expand 4.7 percent in 2017 and 4.1 percent next year.
After growing 2.9 percent last year, Fitch said in March it anticipated the Turkish economy to grow by 2.3 percent in 2017 and 1.3 percent in 2018.
Meanwhile, global economic growth is expected to rise from 2.5 percent last year to 2.9 percent in 2017 and 3.1 percent in 2018, highest rate since 2010.
"Faster growth this year reflects a synchronized improvement across both advanced and emerging market economies," Fitch said in its Global Economic Outlook report.
source: Daily Sabah
20.06.2017
