Moodys: CA deficit key risk factor Turkey.

By bne IntelliNews June 7, 2011
Moodys analyst Sarah Carlson told Bloomberg that Turkeys rating could come under downward pressure if the countrys large and growing current account deficit becomes more difficult to finance. The rapid deterioration in CA deficit is a key risk factor for Turkey and significant external vulnerabilities make very robust fiscal fundamental even more important, according to Carlson. Moodys analyst also calls on the government to tighten the budget after the parliamentary elections and asserts that the challenge is to register larger primary surpluses, accumulate larger forex reserves and reduce debt levels in order to increase resilience to external shocks.

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