S&P affirms Turkey's credit rating
International credit rating agency Standard & Poor's (S&P) has affirmed Turkey's long-term credit rating at "BB-."
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S&P has announced its assessment regarding the Turkish economy.
In the statement made by the credit rating agency, it was stated that Turkey's long-term credit rating was affirmed at "BB-" and the credit rating outlook was "stable."
The statement also noted that the country's short-term credit rating of "B" was affirmed.
Pointing to risks regarding the Turkish economy, the statement emphasized that the stable outlook reflects the view that the current economic team will maintain a tight monetary policy, thereby balancing the implementation risks related to the government's medium-term program in the face of domestic and external tensions.
The statement also included growth forecasts for the country's economy, reporting that Turkey is expected to see a gross domestic product growth of 2.7 percent this year and 2.9 percent in 2026.