Nick Eisinger, Senior Director in the Sovereign Group of Fitch said that Turkey remained an improving credit market despite the risks associated with financing its current account deficit against a more uncertain global financial backdrop. He noted that structural changes to public finances meant that public debt dynamics are better insulated from shocks, while economic growth had become less volatile and should be well supported in 2006. However, Eisinger cautioned that the authorities still face challenges and achieving the 5% inflation target for 2006 will be difficult, while the early stages of Turkey 's EU accession negotiations could become bogged down by difficulties over Cyprus .
Fitch positive about Turkey