The international rating agency “Fitch Ratings” has upgraded the outlook on Türkiye’s long-term foreign-currency issuer default rating from “stable” to “positive” and affirmed the rating at “BB-”, APA-Economics reports.
The agency justified this decision by the faster-than-expected increase in foreign exchange reserves and the reduction in external vulnerabilities.
According to the information, Türkiye’s total foreign exchange reserves reached USD 205 billion in January 2026. Excluding swap operations, net reserves recovered from negative levels to USD 78 billion. “Fitch” views declining dollarization and the relatively tight macroeconomic policy stance as positive factors. At the same time, high inflation and political interference in monetary policy remain key risk factors for the rating.
The agency forecasts inflation to be at 19.5% by the end of 2027.
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