Fitch expects inflation in Turkey to reach 26% by end-2021

Fitch predicts the inflation rate in Turkey to reach 25% by end-2021.

Report informs that the index of consumer prices remains one of the highest among the rated sovereign countries.

"We forecast inflation to reach 25% by end-2021 and remain one of the highest among rated sovereigns, averaging 20% in 2022-2023," Fitch said.

Fitch forecasts general government debt to increase significantly to 47% of GDP in 2021, driven mostly by the lira depreciation.

The agency may downgrade the country's rating at the significant worsening of state debt to GDP ratio.