Finance Minister Simsek’s comments on upward revision of credit rating
Following Fitch Ratings’ upward revision of Türkiye’s credit rating, Treasury and Finance Minister Mehmet Simsek issued the initial response through a post on his social media platform
International credit rating agency Fitch Ratings made a game-changing decision on Friday night, raising Türkiye’s credit rating for the first time in 12 years.
Fitch Ratings raised Türkiye’s credit rating from “B” to “B+” and the rating outlook from “stable” to “positive.” The Minister of Treasury and Finance Mehmet Simsek made the first comment on Türkiye’s credit rating upgrade.
Sharing on social media, Simsek said that the policies implemented were reflected in the credit rating.
“The concrete results of the program we implemented were reflected in our sovereign credit rating. The international credit rating agency Fitch was not indifferent to this success. It upgraded our credit rating by one notch and changed our outlook to positive,” Simsek said.
He added: “The positive outlook indicates that the rating increase will continue in the coming period. After 12 years, Türkiye’s rule-based and predictable policies that comply with international norms have been instrumental in this rating increase. With further strengthening of macro-financial stability, such positive developments will continue. In the second half of the year, thanks to disinflation, narrowing current account deficit and budget discipline, macro-financial stability will be further consolidated and our credit rating will increase.”
Source: Newsroom
