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Mehmet Şimşek evaluates Fitch's credit rating decision

Treasury and Finance Minister Mehmet Şimşek, regarding international credit rating agency Fitch's upgrade of Turkey's credit rating, stated: "Turkey's rule-based and predictable policies that comply with international norms were effective in this rating increase, which comes after 12 years. With the further strengthening of macro-financial stability, such positive developments will continue to increase."

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Credit rating agency Fitch announced its credit rating assessment regarding economic developments in Turkey. Fitch upgraded Turkey's credit rating from "B" to "B+". Fitch also revised Turkey's credit outlook from "stable" to "positive".

Evaluating Fitch's decision, Treasury and Finance Minister Mehmet Şimşek stated in a post on his social media account that the concrete results of the implemented economic program are also reflected in the country's credit rating.

Pointing out that international credit rating agency Fitch did not remain indifferent to this success and upgraded Turkey's credit rating by one notch while revising its outlook to positive, Şimşek noted the following:

"The positive outlook indicates that the rating increase will continue in the coming period. Turkey's rule-based and predictable policies that comply with international norms were effective in this rating increase, which comes after 12 years. With the further strengthening of macro-financial stability, such positive developments will continue to increase. In the second half of the year, macro-financial stability will be further consolidated thanks to disinflation, a narrowing current account deficit, and budget discipline, and our credit rating will rise."