Fitch: Turkey\'s economic outlook positive
Wednesday, December 07 2005 @ 05:12 PM MSK
Good news for the Turkish economy as the country\'s economic outlook has been upgraded by the international credit rating Fitch, from \"stagnant\" to \"positive\". Fitch reported that the reasons behind the rating upgrade were due to social security reform, lower inflation and sensitive monetary policies have triggered an increase in the credit note of the Turkish economy. Fitch also states that the Turkish government can maintain the reform program backed by the International Monetary Fund and the European Union; floating the foreign exchange, stability in the financial system, reducing inflation, and structural reforms will minimize any external shock effects.