# Fitch Ratings assessment of Turkish economy > Live situation record from CLSTR: https://clstr.news/situations/fitch-ratings-assessment-of-turkish-economy > Updated: 2026-09-29T16:41:32.000Z. Sources: 15. Developments: 2. Fitch Ratings has maintained Turkey’s credit rating at ‘BB-’ with a ‘stable’ outlook, noting that tight monetary and fiscal policies have helped manage risks. While gross foreign exchange reserves rose to $176 billion by late September 2026, this remains below levels seen prior to the Iran conflict. Fitch projects inflation will reach 30.5% by the end of 2026, with the USD/TRY exchange rate expected to reach 51 by the end of that year and 60 by the end of 2027. The current account deficit is expected to rise to approximately 3% of GDP in 2026 due to the impact of the Iran conflict and potential oil price increases, though it is projected to stabilize in 2027. In a subsequent assessment, Fitch Senior Director Douglas Winslow emphasized the resilience of the Turkish economy against external shocks, stating that recent developments, including a fund investigation, are not expected to have a direct impact on the credit rating or create systemic risk. While the Central Bank is expected to maintain tight policy, Winslow suggested a potential 150 basis point interest rate cut could occur toward the end of 2026. ## Timeline ### 2026-09-29: Fitch Ratings assesses resilience of Turkish economy Fitch Ratings Director Douglas Winslow reports that Türkiye remains resilient to external shocks, forecasting a 30.5% inflation rate by year-end and a USD/TRY rate of 51 lira by the end of the year. 7 sources. https://clstr.news/cluster/fitch-ratings-assesses-resilience-of-turkish-economy ### 2026-09-25: Fitch Ratings maintains Turkey's BB- credit rating with stable outlook Fitch Ratings maintains Turkey's 'BB-' credit rating with a stable outlook, forecasting inflation to drop to 23.5% by 2027 and the USD/TRY to reach 60 by the end of 2027. 9 sources. https://clstr.news/cluster/fitch-ratings-maintains-turkeys-bb-credit-rating-with-stable-outlook --- Cite as: Fitch Ratings assessment of Turkish economy. CLSTR, https://clstr.news/situations/fitch-ratings-assessment-of-turkish-economy