The business world is pleased with Moody’s decision on Turkey.

After Fitch and Standard & Poor’s, a credit rating increase also came from Moody’s. The international credit rating agency Moody’s raised Turkey’s credit rating by two notches from B3 to B1, while maintaining the credit rating outlook as ‘positive’.

Important representatives of the business world welcomed the rating decision. In a statement at the beginning of the week, Dr. Erkan Kork, Chairman of the Board of BankPozitif Credit and Development Bank, who anticipated the two-notch rating increase and provided evaluations regarding the Moody’s report, stated that the credit rating increase is a result of the disciplined economic program being applied, saying, “This decision was made as a result of the political stability in Turkey, the environment of trust, and the correct economic policies being implemented. In our previous statement, we indicated what level the rating increase would be. The confidence of global markets and financial institutions in the program is evident. We have started to feel the outputs of the program strongly. In this process, our country has also succeeded in exiting the gray list. I believe the trend of rating increases will continue. Especially in the autumn months, there will be consecutive rating increases. A rating increase accelerates capital inflow. In an environment where capital inflow occurs, there will be no problems with exchange rates, inflation, or the current account deficit.”

“Foreign capital shows serious interest in Turkey”

Dr. Erkan Kork noted that they expect larger investments in terms of both direct investment and portfolio investment from now on, stating, “Foreign capital shows serious interest in Turkey. I expect international direct investments to gain momentum by the end of the year. Undoubtedly, these developments are not a coincidence; they are the result of the prudent, realistic, and consistent policies pursued under the auspices of our President Recep Tayyip Erdoğan, and the intense efforts of Minister of Treasury and Finance Mehmet Şimşek and the economic management. I believe that reaching this level of Turkey’s credit rating will positively affect the access to finance not only for the public sector but also for private sector organizations. This rating will reduce the borrowing burden of our treasury and companies and will positively contribute to our country’s long-term growth.”