Turkey was labelled as one of the ‘fragile five’ in 2013, but the policy steps the country implemented last year have been handsomely rewarded this year. The country has a robust, long-term economic outlook, with very favourable demographics.
While there is near-term political uncertainty, valuations should rerate higher once it is resolved.
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Scott Berg is portfolio manager of the T. Rowe Price Global Growth Equity fund
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