Business world pleased with Moody’s decision on Türkiye

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Lerato Khumalo

Important representatives of the business world welcomed the rating decision. BankPozitif Credit and Development Bank Board Chairman Dr. Erkan Kork, who made a statement at the beginning of the week, foresaw a two-step rating increase and made evaluations regarding the Moody’s report, stated that the credit rating increase was a result of the disciplined economic program and said, “This decision was taken as a result of the political stability and trust environment in Turkey, as well as the correct economic policies implemented. We had announced the level of the rating increase in our previous statement. The trust of global markets and financial institutions in the program is already obvious. We have started to feel the outputs of the program strongly. Our country has also achieved success in getting out of the gray list during this process. I believe that the rating increase trend will continue. Rating increases will come one after another, especially in the fall months. Rating increases accelerate capital inflows. In an environment where there is capital inflow, there will be no exchange rate, inflation or current account deficit problems.”

“FOREIGN CAPITAL IS SHOWING SERIOUS FAVOR FOR TURKEY”

Dr. Erkan Kork noted that they expect larger investments in terms of both direct and portfolio investments from now on, and said, “Foreign capital is showing serious interest in Turkey. I expect international direct investments to accelerate by the end of the year. Undoubtedly, these developments are not a coincidence; they are the result of the determined implementation of prudent, realistic and consistent policies pursued under the auspices of our President Recep Tayyip Erdoğan, with the intensive efforts of the Minister of Treasury and Finance Mehmet Şimşek and the economy management. I believe that Turkey’s credit rating reaching this level will positively affect not only the public’s but also private sector institutions’ access to financing. This rating will reduce the borrowing burden of our treasury and companies and will contribute positively to our country’s long-term growth.”