Turkish PM slams rating agency Moody's for its decision to revise Turkey's rating to “Ba1” from “Baa3”
Prime Minister Binali Yıldırım said on Saturday that Turkey's economy was on a strong base as it continues to growth for 27 quarters in a row.
Speaking to journalists in Istanbul, the Turkish Premier said the country continues to grow despite a deadly coup attempt in July.
He also slammed rating agency Moody's for its decision to revise Turkey's rating to “Ba1" from “Baa3".
“I believe that the rating was politically motivated. Our economy has successfully overcome the shake of the July 15 coup attempt. Now its stable and we are continuing our economic reforms," he said.
“Can you find an economy that shows a growth for 27 successive quarters?" he asked.
He recalled Moody's earlier statement that said Turkey's economy has surpassed the shock of the July 15 coup and is stable now.
“So what happened in two days that Moody's changed the ratings?" the prime minister said.
The Turkish economy grew at an average annual rate of 5.5 percent between 2010 and 2014.
“In the Turkish economy, our first priority is investment. We have made many reforms despite the coup. We launched an extensive investment project," he said.
