S & P downgraded the credit rating of Turkey – News Economy

Print The international rating agency S & amp; P Global Ratings has downgraded the sovereign rating of Turkey from “BB +” to “BB”, maintaining a “negative” outlook.

As noted in the press release agency, the downgrade is due to expectations of a further deterioration of the political situation in Turkey after the attempted military coup.

The agency’s experts believe that the conditions prevailing in the country worsen the investment environment and negative impact on the economy and the inflow of capital growth rate from abroad.

The rating agency Moody’s also announced the possibility of a downgrade Turkey to speculative grade in the aftermath of the failed coup.

The Moody’s also noted that the deterioration of the political situation in the country, the growth of credit risk and vulnerability to external shocks may cause the outflow of capital and a significant slowdown in the Turkish economy. The last few years, Turkey has demonstrated one of the best indicators for emerging markets at the end of last year, GDP growth amounted to 4,5%.

Erdogan’s Revenge scares investors

President Recep Tayyip Erdogan strongly and firmly thwarted attempts of political opponents to organize a coup d’etat on Friday, followed by almost 20 thousand. the police, the civil service, the judiciary and the army have been arrested or suspended from duty .

Crowds of pro-government supporters have called for the introduction of the death penalty, to be able to deal with the “conspirators”. Erdogan said that “those who organized the coup, will pay for this.” He accused political opponents Fetullaha Gulen, who is now in exile in the United States and demanded his extradition.

A large number of people accused of involvement in a plot to overthrow Erdogan, raised concerns of the international community and world leaders warned Turkey . the need to respect the “rule of law” and not to use the coup as a pretext to get rid of political opposition

However, the coup met with popular support among the people, who are tired of political instability – 1960 was already four coup .

more than 200 people were killed on Friday as the military attempted to seize power in Istanbul and Ankara. However, the attempt failed because of a lack of state support, organization and international support.

Erdogan urged Turks to show support for the principles of democracy, and by default, and its leadership came out to the streets to mark the coup failure.