Fitch affirmed its rating on Turkey’s credit to BBB-, the lowest investment grade, but the ratings agency lowered its outlook to negative.
S&P Global Ratings, though, already lowered the country’s’ credit rating to two steps below investment-grade and warned that increased political uncertainty could continue to push off investors and undermine fiscal management.
“Data released by the statistical office Turkstat on Friday showed that Turkey Q2 GDP growth significantly disappointed with GDP increasing by only 0.3 percent q/q, missing expectations for 0.5 percent and compared to 0.7 percent in Q1,” reports EconoTimes.
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iShares MSCI Turkey ETF