Turkey's economic growth forecast for 2019 has been lowered from 3.6% to 1.2% by ratings agency Fitch. The downgrade comes as the Turkish lira plummets against major currencies and threatens investor confidence in Turkey. Fitch also lowered the country's 2018 growth forecast by 0.7 percentage points to 3.8%.
Turkey's economic growth forecast for 2019 has been lowered from 3.6% to 1.2% by ratings agency Fitch. Turkey is struggling with a currency crisis, as a slump in the value of the lira diminishes spending power and hits consumer and business confidence. Fitch also lowered the country's 2018 growth forecast by 0.7 percentage points to 3.8%.