Turkey deserves higher credit ratings, Babacan says

Turkish Deputy Prime Minister Ali Babacan said, "Turkey is much above of those given marks."

Turkey deserves higher credit ratings, Babacan says

World Bulletin / News Desk

Turkish Deputy Prime Minister Ali Babacan has stated Turkey deserves much better credit noting then what credit rating agencies assess Turkey. He added assessments of credit rating agencies were not reflecting the truth and said, "Turkey is much above of those given marks."

In the framework of attending the World Economic Forum, Babacan headed to Zurich and replied the questions of reporters upon the topics in the agenda.

He said "Turkey's current credit ratings don't reflect the truth. Turkey's much over what it received as in those ratings. Obviously as a government we will say that however when we have a look at the risk and trust index in the market, loan, default, exchange rates and domestic real interest rate, it says that we already received higher points from investors and who had invested in Turkey. Turkey's credit note is much higher in the eyes of investors. So, they will make their own decisions."

He also stressed, "Actually 2012 was an important year in the scope of fighting against the current account deficit. Especially, bringing domestic consumption under control and taking a firm grip on bank loan volume. Considerably, these decreased the current account deficit. We did recover in inflation, current account deficit and prepared a strong ground to grow."

He stated, "Credit rating agencies may mention the current account deficit. Sometimes they touch on geopolitic issues, or they hold political assessments. They hold their own risk assessments. From whichever point who look at it, when you check the result, we think that Turkey deserves a much higher one."

Last Mod: 24 Ocak 2013, 10:56
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