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  • 04-03-21

    Turkish President points new era of reforms in economy

    (MENAFN)Moody's declared that a group of economic reforms that tackle the economy's structural imbalances while capitalizing on the country’s inherent strengths might increase rating pressure over the medium term.

    President Recep Tayyip Erdogan highlighted novel period of reforms in the economy and judiciary, stating that novel moves will increase the standards for democratic rights and freedom.

    According to international credit rating agency, "The policy shift since November is a clear credit positive, leading to a stronger currency, renewed capital inflows, and a stop to the bleeding of foreign currency reserves."

    Moody's further declared that domestic confidence is not completely restored yet, referring to the need for a longer track record showing that the more reliable policy framework will be preserved.

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