with a "stable" outlook

Moody's said a fall in tourism receipts, which represent 4.4 percent of the economy, due to Russia's sanctions last year and a rise in bomb attacks inside the country had weakened its balance of payments.

"More recently, the government's response to the unsuccessful coup attempt raises further concerns regarding the predictability and effectiveness of government policy and the rule of law going forward. This has consequences for both institutional and economic strength,"it noted, adding that the prospect of sustained reform implementation that decisively moves the economy from consumption- and external capital-driven growth to a more balanced growth model is low.

British Foreign Secretary Boris Johnson said he hoped for a “jumbo” new free trade deal with Turkey after the United Kingdom leaves the European Union, praising the quality of Turkey-made products - including his washing machine at home.

“What I hope for is a jumbo free trade deal between the United Kingdom and Turkey,” Johnson told reporters at a joint news conference with Turkish Foreign Minister Mevlüt Çavuşoğlu.

“We are leaving the EU, but we are not leaving Europe,” he added.

While Ankara is not a member of the European Union, it aspires to join the bloc and has a customs union with it.

Underlining the strength of the bilateral relationship even after the vote to leave the EU, Johnson noted that the iconic biscuits “that he grew up on as a child” were now owned by Turkish confectionary giant Ülker.
Johnson also praised the high quality of other Turkey-made products, noting that the U.K. is one of the largest markets for these products.

“We are happy in the United Kingdom to be one of the biggest recipients of Turkish goods. I am the proud owner of a digital, very well-functioning Turkish washing machine,” Johnson told reporters at another news conference in Ankara late Sept. 26, as quoted by Reuters