In its Global Economic Outlook - September 2017 report, international credit ratings agency Fitch Ratings has stated that economic growth in Turkey has again come in ahead of Fitch’s expectations. In the second quarter of the current year, Turkey’s economy grew by 5.1 percent year on year, little changed from an upwardly revised 5.2 percent in the first quarter. According to Fitch, performance remained supported by various government incentives including temporary fiscal measures and the strengthening euro zone economy has also played a supportive role.
According to the credit ratings agency’s statement, political considerations ahead of elections that have to be held by November 2019 may trigger further rounds of stimulus, and Fitch’s growth forecasts are based on a looser fiscal policy than in the recent past. Accordingly, Fitch expects economic growth to slow in the fourth quarter of this year and maintains its forecast for 2018 and 2019 of 4.1 percent.