2/19/2010

“Turkey is the only country to have a two-notch rating upgrade”

 

AA - “Turkey is the only country to receive a two-notch credit rating upgrade, even at this time of global financial crisis”, said Turkey’s Minister of Finance Mehmet Simsek, during the 5th Turkey-Bahrain Joint Economic Committee (JEC).

 

“By the end of 2010, Turkey is expected to have a USD 1 trillion GNP in terms of purchasing power parity, which would make the Turkish economy the 15th largest in the world”, said Simsek during the signing ceremony of the Memorandum of Understanding between the two countries following the JEC meeting.

 

Simsek spoke of Turkey’s rising export figures, which reached USD 102 billion by the end of 2009, and underlined the fact that the country attracted USD 7.6 billion of FDI even during the financial crisis. “More than 80 countries had a downgrade of their credit ratings during the crisis. Turkey is the only country to receive a two-notch credit rating upgrade, affirming confidence in our economy” he noted.

 

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