Turkey: Still in a sweet spot

Commerzbank Corporates & Markets
Emerging Markets
https://research.commerzbank.com

Turkey: Still in a sweet spot

Following our October visit, we wrote that the Turkish economy had entered a sweet spot – that slower growth and low commodity prices were having a materially positive impact on Turkey’s current account and inflation imbalances. Last month, current account and inflation data improved further. Meanwhile, Fitch upgraded Turkey to investment grade – the only such upgrade in the region since Lehman. Moody’s holds a positive outlook. Understandably, foreign capital is piling in.

Analyst:
Tatha Ghose