(MENAFN) Leader Recep Tayyip Erdogan stated on Friday that the inflow of international capital to Turkey will gain momentum once the issue of escalating inflation is effectively addressed.
"The positive impact of the decline in the default swaps and the improvement in the credit rating will be felt in our capital markets, especially the stock market," Erdogan stated at an event marking the 150th anniversary of Borsa Istanbul, Turkey’s main stock market.
Emphasizing that the stabilization of inflation will have positive effects, President Erdogan highlighted that it will benefit the stock market and facilitate investors' access to financing resources.
Erdogan stressed that the real sector is better financed and savings rates rise with the development of capital markets in developed economies, adding, "We must also take a more determined stance in this direction and prevent anyone, whether politicians or economists, from manipulating capital markets."
Since the ruling party assumed control in 2002 and with the implementation of significant changes in capital markets, along with the establishment of the Istanbul Finance Center, Turkey has solidified its central position in the finance sector, according to Erdogan.
He emphasized that the substantial growth potential of the Turkish economy is drawing interest from investors both domestically and internationally.
"While there is a contraction in the global economy and foreign capital flows are falling, Türkiye continues to attract foreign capital through its stock market, that is, to provide financing for its economic growth," he stated.
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