Fitch on Turkey.

Kathimerini English - - Focus -

Fitch said in its sov­er­eign credit re­port on emerg­ing Europe that ac­tiv­ity in Turkey “has bounced back rapidly from the coup at­tempt, with growth hit­ting 5 per­cent year-on-year in the first quar­ter of 2017. Mo­men­tum was sup­ported by govern­ment in­cen­tives, in­clud­ing tem­po­rary fis­cal mea­sures and a jump in the Trea­sury com­mit­ment to the fund that backs lend­ing to small and medium-sized en­ter­prises.” The rat­ings agency added that “stronger growth and low govern­ment bond yields pro­vide a fa­vor­able back­drop for pub­lic fi­nances, although some are us­ing the fis­cal space for pro-cycli­cal pol­icy.”

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