Turkey continues to grow, despite ratings: Erdogan

Nobody took Moody's rating seriously, as it came from political motives, not economic indicators, says the president

ANKARA (AA) – Far from being in decline, Turkey’s economy has been growing for the last 27 quarters, President Recep Erdogan said Thursday.

"Turkey continues to grow and develop. The credit agencies make evaluations under someone's orders. These agencies give a 'stable' outlook to a country like Turkey, which is standing on its own two feet. This time they even reduced it," Erdogan told a gathering of local officials (muhtars) in the capital Ankara.

Erdogan’s comments follow the decision last week by ratings agency Moody's to lower Turkey's credit rating from Baa3 to Ba1.

"Put some coins into their [credit agencies’] pockets and get the rating what you want. We know where they take the orders from," said the president.

He added, "Cut the rating as much as you want. Turkey will continue to develop.”

"We will open the Eurasia Tunnel on Dec. 20. Let them come and go through the tunnel," he said, referring to a $1.25 billion project underneath the Bosphorus, due to cut the 100-minute cross-strait journey time to just 15.

According to Erdogan, nobody took Moody's decision seriously, as it was guided by political motives, not economic indicators.

Kaynak:

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