Japan credit agency to maintain Turkey at 'BBB-Stable'

By Diyar Guldogan

ANKARA (AA) - Japan Credit Rating Agency (JCR) will maintain Turkey's credit rating at "BBB- Stable", Eurasia administrative council director of the agency said on Friday.

"As it is well known, the JCR continues to hold Turkey at 'BBB- Stable', which is a level of investible category," Orhan Okmen, said in a statement.

Okmen said Turkey's economy is stronger than it appears in statistics.

He added it was unlikely that Turkey will face any difficulty in the short and medium terms despite increase in the financing costs.

"In Turkey, the economic stability indications balance political risks and fiscal stability balances monetary stability.

"This two-sided balance protects Turkey's level of stability from its structural risks, flexibility feature of the economy and its performance," Okmen said.

He added protection of these are two "fundamental" indicators that Turkey is still on the investable level.

Okmen said some assessments, such as deterioration in price stability and constant postponement of reforms, are true, adding: "Turkey's economy is still strong enough to compensate the downward acceleration caused by political weaknesses and risks."