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Economy
The verdict of the credit guards falls just before the weekend: The Fitch rating agency, one of three big names of the bond market, sees black clouds on the Turkish public finances. The outlook is "negative".
The rating agency Fitch lowered Turkey's credit rating one notch the evening after the market closed in Europe and the United States. The long-term risk of issuer default has been lowered from "BB +" to "BB" today. The outlook is negative, says Fitch
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According to the language of the rating analysts, this prospect threatens the state at the interface between Europe and Asia in the short term, a new gradation of solvency, what financial flexibility. The Turkish government is expected to tighten in the medium term. Turkey already provides bond market investors with high premiums to raise new funds in the capital market.
Fitch analysts said the "downside risks" of Turkey's "macroeconomic stability" have worsened. The Turkish budget deficit is increasing in a more demanding global financial environment, he added. Also inflation increases. The devaluation of the Turkish lira would become a problem
More information on the subject
A few hours earlier, the government of Ankara had attempted to normalize domestic relations in Turkey. The state of emergency, which has been in place since the coup attempt failed last July, is due to expire in the coming days. The president now renounces another extension, said a spokesman for the government
Source: n-tv.de
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