Downgrades will not discourage us

Chairman of Turkish Exporters' Assembly, Mehmet Büyükekşi, made a statement regarding the credit rating update by S&P and Fitch:

“Last night S&P once again cut our outlook to negative, hinting a future credit rating downgrade. And Fitch, downgraded Turkey's credit rating below investment grade, stating political instability as one of the causes. However, there is one thing that shouldn't be missed; Turkey has been through lots of hardship in 2016, we suffered a dark day such as July 15th, faced countless terrorist attacks. Despite all these, we never gave up on democracy and continued to look for long term solutions to strengthen our economy.

Turkey is a country of great potential, and if it continues the path of economic reforms, Turkey will grow exponentially. We are facing credit rating downgrades which are totally out of sync with our economy. However, we won't give in, we will continue to use our potential and economic strength to follow our path towards our targets.”