WE DISAPPROVE OF DOWNGRADE BY MOODY'S

TIM President has issued a press statement regarding the credit rating downgrade of Moody's. Mr. Buyukeksi stated that the downgrade does not match with macroeconomic dynamics of Turkey.

Mr. Buyukeski told the followings;

“The macroeconomic indicators of Turkey did not deteriorated. Public finance is strong. Export is going better than most of the countries. Current account deficit is far from the danger zone. Turkey's GDP has experienced a 4,7 % increase in the first quarter of 2016, being the 6th greatest growth figure on the world. %3,1 GDP growth in 2016Q2 is better than 21 EU countries. Even considering the decreasing interest rates by the Central Bank along with structural reforms by the government, we strongly believe the downgrade by Moody's does not match with economic situation of Turkey”

Published on Thursday, September 29, 2016
SHARE