Yetkin Report

  • Türkçe
  • Politics
  • Economy
  • Life
  • Writers
  • Archive
  • Contact

Turkey’s self-styled economy policy: an expensive lesson

by YetkinReport / 26 September 2020, Saturday / Published in Economy
Economist Uğur Gürses on Minister of Treasury and Finance Berat Albayrak: “He was the minister in charge of the economy in three of the four downgrades in the past four years.”  (Photo: Berat Albayrak’s Twitter account)

“Turkey is not such a rich country to take an economy lesson that is so expensive,” said economist Uğur Gürses in his most recent article published on Duvar English. Gürses noted that while it’s “painful” to see comments about the Central Bank raising interest rates while the exchange rates are at a record high. Gürses states that the signs were there six years ago when Moody’s downgraded Turkey’s outlook to negative. Below are excerpts from the article.

So-called “perception operations“

Albayrak said, “We do not care and we will not care if some people upgrade or downgrade ratings. We will continue growing as a country and maintain our stance. Thank God, we are aware of this game. Our economy is improving each day. We are aware of the perception operation.”

This rhetoric has continued up until this day: Certain powers are making perception operations; officials in the government are watching it. 

“Who cares?”

After Minister Albayrak said “Who cares,” he was the minister in charge of the economy in three of the four downgrades in the past four years. 

According to Moody’s credit rating scale, the latest downgrade shows that we are close to the bottom. If we drop two more places, then our grade will be “C,” which is the “highly speculative” category, very near default. 

If Moody’s rating drops and changes in the outlook had been taken seriously, then today the country would not be in this fall that is explained to the public as “the game of foreign powers.”

Click here to read the full article.

Yeni yazılardan haberdar olun! Lütfen aboneliğinizi güncelleyin.

İstenmeyen posta göndermiyoruz! Daha fazla bilgi için gizlilik politikamızı okuyun.

Aboneliğinizi onaylamak için gelen veya istenmeyen posta kutunuzu kontrol edin.

What you can read next

A worrying inflation of crisis in the bigger Turkey picture
The first ship sales from Ukraine after grain deal
Erdoğan learns the hard way, as Turkish people pay the bill
  • Proving it can disrupt the game if not invited: unseen power of Türkiye28 May 2025
  • Pro-gov’t paper Yeni Şafak slams Turkish economy: an anti-Şimşek op27 May 2025
  • US Ambassador Barrack: Syria will not be divided, no new Sykes-Picot26 May 2025
  • Özel to Erdoğan: “You are a local dictator. You will leave as you came.”20 May 2025
  • UK-Türkiye: More than just a free trade agreement on the horizon20 May 2025
  • Towards a simultaneous solution to Ukraine, Syria and the Kurdish issues16 May 2025
  • The PKK’s decision to dissolve and questions to the Turkish government13 May 2025
  • Turkish public awareness of the disbanding of the PKK is low: survey13 May 2025
  • Türkiye is at the threshold for a solution to its chronic Kurdish problem9 May 2025
  • Security is the new dynamic in EU-Turkish relations9 May 2025
Search the news archive...

Politics

Economy

Life

Writers

Archive

Türkçe

About

Impressum

FAQ

Advertising

Contact

Made with ♥ by tbtcreative.com © 2022 yetkinreport.com All rights reserved.

Yetkin Report     ·      Help     ·      User Agreement     ·      Legal

TOP