Moody's: Turkey is strong as compared to similar countries, close to increase in credit rating

"Turkey's economic power is more moderate and higher compared to the similar countries. Despite external imbalances, we can consider to increase its credit rating, if it continues budget and monetary policies providing the country to grow," international credit rating agency Moody's said in the evaluation note regarding Turkey. The statement made by Moody's is the second positive message this week, after the Standart&Poor's has signaled a credit rating increase by emphasizing the flexible export opportunities of Turkey earlier in the week. Moody's also added that Turkey's Ba2 credit rating was based on the flexibility of Turkey's public sector financing during the global economic crisis and the income per capita has increased compared to other similar countries. Moody's also highlighted that Turkey has boosted its integration with global economy, saying, "Turkey has significantly increased its endurance against economic, financial and political vulnerabilities in the process of global crisis. The financial power of the country has consistently developed in the last decade. This improvement can also be understood from the economic parameters such as rate of debt to national income, as well as strength to pay debt. Turkey has showed that its economic growth will most probably continue during the years ahead."