Economy News by T24
The Minister of Treasury and Finance, Mehmet Şimşek, commented on Moody’s upgrade of Turkey’s credit rating, saying, “Our economy has successfully overcome the period of domestic and international uncertainties and challenges, entering a positive cycle once again. This rating increase confirms that we have managed the process successfully and reaffirms the resilience of our economy.”
The international credit rating agency Moody’s upgraded Turkey’s credit rating from “B1” to “Ba3” and revised its outlook from “positive” to “stable.” Minister of Treasury and Finance Mehmet Şimşek made a statement regarding Moody’s upgrade of Turkey’s credit rating.
Minister Şimşek used his social media account to share the following statements:
“Our country’s credit rating has been upgraded.
Our economy has successfully overcome the period of domestic and international uncertainties and challenges, entering a positive cycle once again.
This rating increase confirms that we have managed the process successfully and reaffirms the resilience of our economy.
We are determined to permanently reduce inflation, maintain the current account deficit at sustainable levels, and strengthen budget discipline excluding earthquake expenses.
We will make the gains of our program permanent through reforms that will bring about structural transformation in the industry, especially in green and digital transformation.
As we continue to implement our program with patience and determination, our risk premium will decrease further, our access to finance will increase, and more credit rating upgrades will come.”
