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14 Mar 2019, Gergana Bencheva, EMIS Editor

Fitch lowers Turkey's growth estimate for next 5 yrs to 4.3%

Credit rating agency Fitch Ratings has lowered its estimate on Turkey's potential economic growth by 0.5pps to 4.3% for the next five years, CEEMarketWatch reported. The agency's reduction was explained with the collapse in the investment-to-GDP ratio after the country's currency crisis in 2018.

Turkey's gross domestic product (GDP) went down by 3% on an annual basis for the fourth quarter of 2018. As for full 2018, real investments declined by 1.7%. According to Fitch, Ankara's GDP growth will slow down to 0.6% for 2019 alone, CEEMarketWatch noted.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch