Fitch cuts Turkey growth forecast

Photo: Fitch cuts Turkey growth forecast / Business News

Ratings agency Fitch cut its growth forecast for Turkey to 2.5 percent from 3.2 percent for 2014, and to 3.2 percent from 3.8 percent for 2015, citing slower domestic lending growth and signs of moderation in consumer and investor confidence Hurriyet Daily News reported.

In a note released on Friday, Fitch affirmed Turkey's ratings at BBB- with a stable outlook.

Fitch said it expected political noise to remain an enduring feature of Turkey ahead of presidential elections in August and parliamentary elections in June 2015, periodically clouding the economic outlook.

Fitch said Turkey's economy remained highly volatile, and expected the coherence and predictability of its macroeconomic policy to be weaker than in some emerging market peers.

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