PM says credit ratings 'confirm Turkey's resilience amid crisis'

The ruling Justice and Development Party Chairman Erdogan delivered a speech at his party's parliamentary group meeting.

PM says credit ratings 'confirm Turkey's resilience amid crisis'

Prime Minister Recep Tayyip Erdogan said on Tuesday that Turkey was included among 14 countries whose credit ratings have been increased during global economic crisis.

The ruling Justice and Development Party Chairman Erdogan delivered a speech at his party's parliamentary group meeting.

Erdogan said rise in credit rating of Turkish economy was an evidence of its resilience against economic crisis.

Erdogan said Turkey was shown among countries which would record a great economic growth in 2010 and following years. "International rating agencies confirmed that Turkey will be among countries which will weather global economic easily," he added.

Turkey has recently won upgrades from Fitch and Moody's, two international credit rating agencies.

Moody's Investors Service upgraded Turkey's government bond rating to Ba2 from Ba3 last week, reflecting Moody's growing confidence in the government's financial shock-absorption capacity. Last month, Fitch upgraded Turkey's rating two grades to "BB ".



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