Moody’s decision to cut rating on Turkey to junk is political: Deputy PM Numan Kurtulmus

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Ankara (turkey) | Published: September 26, 2016 5:17:05 PM

Deputy Prime Minister Numan Kurtulmus, who is the main government spokesman, also told a news conference that Turkey's economic policy remained on track.

Deputy Prime Minister Numan Kurtulmus, who is the main government spokesman, also told a news conference that Turkey's economic policy remained on track. (Reuters)Deputy Prime Minister Numan Kurtulmus, who is the main government spokesman, also told a news conference that Turkey’s economic policy remained on track. (Reuters)

Turkey’s main government spokesman on Monday lashed out at ratings agency Moody’s after it downgraded Ankara’s sovereign debt rating to “junk”, saying the decision was political and Turkey opposed “treasonous” attempts to undermined its economy.

Deputy Prime Minister Numan Kurtulmus, who is the main government spokesman, also told a news conference that Turkey’s economic policy remained on track.

Kurtulmus, who was speaking to reporters after a cabinet meeting, said good management of the Turkish economy following the abortive putsch of July 15 had offset risks and that macroeconomic indicators since failed coup have been stable.

In its decision late on Friday, Moody’s cited worries about the rule of law after the failed putsch and risks from a slowing economy.

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