Turkish currency and debt crisis
Fitch Ratings has revised up Turkey's 2021 economic growth forecast to 9.2%, according to the rating agency's Global Economic Outlook for September, released on Sept. 16.
The new figure is a massive upward revision from the agency's previous upgrade made on Aug. 13 when it revised up Turkey's growth forecast to 7.9%, from 6.3%.
U.S.-based multinational banking and financial services company JP Morgan on Sept. 1 revised its estimate for Turkey's economic growth for 2021 from 6.8 percent to 8.4 percent.
According to a report published by the firm, the Turkish economy continued to grow "at full speed thanks to robust domestic demand and surging export demand in the second quarter."
International credit ratings agency Moody's on Aug. 31 upgraded Turkey's economic growth forecast for 2021 from 5 percent to 6 percent.
In its Global Macro Outlook 2021-22 report, Moody's also revised the growth expectation of the Turkish economy for 2022 from 3.5 percent to 3.6 percent.
Turkey's economic confidence index hit a 39-month high of 100.8 this August, the country's statistical institute said on Aug. 27.
Chiefly driven by the services and construction confidence indices, the main reading improved 0.7% from July, Turkish Statistical Institute (TÜİK) data showed.