Moody’s disputes Turkey’s growth expectations unveiled in new economic program

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Moody's, leading international credit rating institution, is seen on the photo in New York, United States on 21 May, 2014. Cem Ozdel / Anadolu Agency

Global credit rating agency Moody’s says Turkey’s economic program growth targets risk increasing macro imbalances, adding that a 5 percent growth target for next year is not compatible with other assumptions in its economic plan, according to the fxstreet news website.

Moody’s sees 0.25 percent growth in the Turkish economy at yearend and a rebound to at least 3 percent in subsequent years.

Turkey expects 0.5 percent growth for 2019, according to the new economic plan announced on Sept. 30.

Turkey’s statistical authority announced on Oct. 3 that inflation has fallen to 9.26 percent, the lowest level in almost three years.

Moody’s said in its latest report that until Turkey implements new reforms, it will remain vulnerable to balance of payment crises.

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