Energy minister: Turkish economy resilient despite regional turmoil


Energy and Natural Resources Minister Berat Albayrak has criticized Moody's' decision to downgrade Turkey's sovereign rating, saying that the efforts made to manipulate the perceptions of Turkey must be ignored. Albayrak attended an opening ceremony with Economy Minister Nihat Zeybekci in Denizli. Critical of the perception manipulations aimed at Turkey by international credit rating agencies, Albayrak said, "We will be on alert in our struggle within the framework of the truth and continue to improve Turkey's role in a time of regional and global fracturing." Stressing that Turkey makes no account of Moody's' downgrade, Albayrak said Turkey consistently progresses in its path in terms of economic and monetary policies.The minister also said Turkey will maintain its growth performance and strong stance despite perception manipulations, adding that Turkey is aware of the game that is being played.Moody's announced on Friday that Turkey's long-term credit rating was revised from "investment grade level" to "junk" as a result of negative monitoring that started on July 18 following the Gülenist Terror Group's (FETÖ) July 15 coup attempt.According to Albayrak, Turkey is thriving in the demand for state tenders and borrowing costs with every passing day. Highlighting that Turkey will continue to be the most reliable and the most stable country in the region while a game is being played on a global scale, the minister said Turkey will consolidate its unique role through its economy, qualified labor force, improving infrastructure and successful companies both in the region and the world. "Considering our solid stance in the most challenging period, when we are struggling with the most dangerous terrorist organizations in the world - Daish, the PKK and Gülenist Terror Group (FETÖ) - we will be much stronger in normal periods," he told.Zeybekci said interest rates have fallen despite the operations of credit rating agencies, adding that the Turkish economy has not reached its current level through the decisions of Moody's, Standard & Poor's and Fitch. Underlining that Turkey gained significant economic achievements from 2003 to May 2013, the minister said what Turkey cares about is not gaining the appreciation of some, but to reach the global economic standards set by credit rating agencies. He concluded, "Turkey has made a move to make history in the economy in 2017 despite all the operations aimed at the economy."