Turkey fiscal position remains strong ahead of rating review: Fitch

LONDON - Reuters

Turkey’s fiscal position, which is a key metric for its sovereign rating, has not changed and remains supportive of its rating, ratings agency Fitch said on Sept. 8, adding it would review its assessment next week.

Fitch has Turkey on a BBB- rating with a stable outlook.

“Key for the rating is Turkey’s fiscal position - and despite all the political noise that is going on - the fiscal strength has not wavered. We are still looking at a comfortable primary surplus at 1.5 percent of GDP,” Paul Gamble, senior director at Fitch Ratings, said at a conference.

“There is consensus across all political parties for continued fiscal discipline,” Gamble said, adding that after a lack of economic reform he hoped to see a strong commitment to reform after the upcoming elections.