The agency said in a statement published late on Friday evening, that the tight monetary policy stance of the Turkish Central Bank allowed for the stabilization of the lira, the reduction of inflation, the rebuilding of reserves, and the cancellation of the financial system’s dependence on the dollar, according to what was reported by the Anatolia Agency.
The statement indicated a decline in the savings gap between… Türkiye And the rest of the countries of the world, and this is evident in the decrease in the current account deficit rate by approximately 4 points since 2022.
He added that the outlook is stable, reflecting the balanced risks over the next 12 months of the authorities’ ambitious plans to reduce inflation, which is still high, manage workers’ wage expectations and restore balance to the Turkish economy.
The agency confirmed the possibility of raising Turkey’s rating if further progress is made in reducing inflation to single digits and restoring confidence in the Turkish lira in the long term and within a broader scope in the local capital markets.
The agency raised Turkey’s credit rating from “B” to “B+” last May, while maintaining its future outlook at “positive.”
