International credit rating agency Fitch lowered forecast on Turkish economy’s growth for 2018 and 2019. It revised forecast to 3.8% for 2018 and 1.2%for 2019.
Fitch also indicated that the strong loss of value of the Turkish lira and trade deficit are thretening to further lower economic growth perspectives.
In its communiqué, Fitch noted that there are serious risks on a downward trend. It further stressed that the GDP growth in 2018 would account to 3.8% in 2018 and approximately 1.2% in 2019. It also added that they forecast a contraction of the economy in the fourth quarter of 2018.