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    Standard & Poor's rating of Turkish economy

    Hürriyet Haber
    21.08.2006 - 15:27 | Son Güncelleme:

    "The continuation of structural reforms in Turkey's economy will positively affect Turkey's credit rating," said Farouk Soussa, Standard & Poor's Turkey analyst.

    Soussa indicated that the Turkish economy was one of the hardest hit economies in the world after fluctuations in global markets recently.

    "The slow down in fluctuations will help the Turkish economy in the short run," stressed Soussa.

    Soussa noted that foreign trade deficit in Turkey hurts the Turkish economy. "Structural reforms to close the gap in foreign trade deficit must take place as urgently as possible."

    Meanwhile, three banking executives have established a new Turkish ranking group, called "Turkrating", that will provide credit ratings for Turkish small and mid-size businesses and all financial agencies in Turkey.

    Standard & Poor's keeps Turkey's rating at "BB-".

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