International rating organization, Moody's, said on Wednesday that it would raise Turkey's rating if the country improved its financial and monetary policies.
Moody's senior analyst Sarah Carlson said the recent Moody's report on Turkey was not totally a negative report, but was "fairly balanced".
The report said that Moody's could raise Turkey's rating if the country improved its financial and monetary policies, Carlson told AA correspondent.
Moody's has released a report entitled "Turkey's post-election policies will determine rating."
Carlson said Turkey's "Ba2" positive rating could be negatively affected if growing internal and external imbalances were not taken under control.
The analyst said Moody's main concern was the huge current account deficit of Turkey, and argued that the deficit could make Turkey more fragile to sudden shocks.
Carlson said this problem could be solved with a robust financial and monetary policy, development of production and competition, and foreign currency savings.
On possible reflections of Euro zone crisis on Turkish economy, Carlson said there were significant ties between Turkey and Euro zone through export channels, and a weakness in the region could reduce demand for Turkish exports.
Carlson also said Turkey was more resistant to shocks when compared to previous years, which had contributed to the country's positive outlook.
Moody's upgraded Turkey's rating to "Ba2" from "Ba3" in January 2010. Turkey's rating was upgraded again in October 2010 to "positive" from "stable."
AALast Mod: 03 Ağustos 2011, 16:55