Standard & Poor's is expecting a steady drop from the Turkish lira until 2022 by Investing.com

Investment.com – Standard & Poor's forecasts a steady decline over the next three years and bad loans on banks will double to 8% over the next 12 months.

"S & P thinks that the Turkish lira will fall at a brisk pace until 2022," said the agency's senior analyst, Mexico Rybnikov.

The level of unproductive loans, which are late by at least 90 days, will increase to 8% by the end of the year, although larger scale doubtful debts will reach between 15% and 15%. At 20%.

In terms of trading, at 8:52 pm Mecca, the US dollar depreciated by 0.3% against the Turkish lira to settle at 5.2829.

It should be noted that the Turkish lira has been exposed to strong fluctuations over the past year and has experienced a sharp decline, losing more than 40% of its value due to the political crisis between the United States and the United States. Turkey. The latter refused to release the American priest incarcerated and accused of espionage.

Since August, Turkey has suffered a severe financial and monetary crisis that has pushed exchange rates to low levels for the "Turkish lira" and has fluctuated in the abundance of currencies on the official markets.

According to official economic data, inflation in Turkey is three times higher than average in countries with similar emerging markets. The country has therefore become the same basket with countries with high inflation rates, such as Argentina, which has an inflation rate of 22.9% and Ukraine with 13.6%.

In October, Turkey 's annual inflation rate reached 25.2%, affecting investors, especially investors, who lost 17% from one year to the next, which has resulted in widespread stagnation in the core areas of the housing sector, such as the cities of Ankara and Istanbul. , To all regions of the country.