Related: More Tumult for Lone Turkey ETF
Turkey has been tackling a number of economic issues. The country has been suffering an economic downturn due to greater political instability, a struggle against threats from the Islamic State and a renewed war with Kurdish militants in its southeast, reports Michelle Mark for the International Business Times.
Currently, Turkey is experiencing rising inflation, slowing growth, increased fiscal expenditures, high unemployment and a dip in export competitiveness. The economy is expected to only expand 3% this year. Obviously, TUR is shaking off some of Turkey’s economic headwinds.
“Positive EPS Momentum: Sell side analysts estimates for the earnings of Turkish companies have also been seeing upwards adjustments, as fears surrounding “profits pain” have somewhat faded,” adds Citi. “Turkish equities still trade roughly 10% cheaper than GEM equities on a forward PE basis.”
For more information on Turkey, visit our Turkey category.
iShares MSCI Turkey ETF
