(MENAFN) Risks away, Turkey claims a big, expanded, robust economy with a solid banking division, an executive stated at Moody’s Investors Service, a sister firm of the global rating agency, on Monday.
"They (Turkish banks) have had pretty good results. They are solid,” Kathrin Muehlbronner, senior vice leader within Moody’s Investors Service Sovereign Risk Group, stated to Anadolu Agency, quoting “stabilizing factors."
She stated that "Exporters are benefiting clearly very much from the (Turkish lira’s) depreciation,” adding, praising the nation’s “large diversified resilient economy."
She mentioned that Turkey could benefit from source chain shifts in the wake of the COVID-19 epidemic, stated that: "Turkey can benefit massively from a nearshoring of production by European companies and (from its) Customs Union with the EU."
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