Turkey to have improved finance| MENAFN.COM

Monday, 04 July 2022 02:38 GMT

Turkey to have improved finance


(MENAFN) Risks away, Turkey claims a big, expanded, resilient finance with a solid banking field, as reported by a leader at Moody’s Investors Service, a parallel firm of the international rating agency.

Kathrin Muehlbronner, head vice president in Moody’s Investors Service Sovereign Risk Group, said to a Turkish agency, "They (Turkish banks) have had pretty good results. They are solid,” citing “stabilizing factors." "Exporters are benefiting clearly very much from the (Turkish lira’s) depreciation,” she said, flattering the nation’s “large diversified resilient economy."

Muehlbronner stated that Turkey might profit from supply chain changes owing to COVID-19, noting, "Turkey can benefit massively from a nearshoring of production by European companies and Customs Union with the EU."

She noted that predictions for Turkish financial development are positive, saying, "Exports are doing well. Lira depreciation helps. There are clear incentives such as credit stimulus for exporters and investments."

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