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Moody's Upgrades Turkey Banking Outlook From Negative to Stable


Moody’s says it has changed its outlook on the Turkish banking system to stable from negative.

  • Operating environment for banks remains “challenging and volatile,” Moody’s says, citing an expected slowdown in economic growth and high inflation.
  • “Government’s initial steps to return to orthodoxy in policymaking following the elections in May 2023 is supportive of operating conditions for Turkish banks”, they added.
  • They expect real GDP growth at 4.2% in 2023, down from 5.6% last year.

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