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TURKEY: Local Markets Remain Shut, Fitch Revise Turkey Growth Estimates Higher

TURKEY
  • As a reminder, local markets in Turkey are closed today, and will remain closed for the remainder of this week, over the Eid al-Adha holidays.
  • Consumer confidence data for June will cross on Thursday and provides the only highlight on the local data slate.
  • According to Fitch, Turkey’s economy grew above expectations in the first quarter of this year due to the recovery in exports, the sharp decline in imports and still strong domestic demand. Fitch therefore adjusted its growth forecast of the Turkish economy from 2.8% to 3.5% for this year. They expect the economy to grow 3.0% in 2025 and 3.2% in 2026.

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