Morning Note /
Turkey

Turkish equities continue to rise

  • Issuing hard currency bonds for domestic debt is the pinnacle of the “original sin” in the fiscal holy book

  • Turkey has fiscal room with low public debt/GDP but is giving away the hard-earned gains of the past 15 years

  • Current account (C/A) surplus realised as US$3.16bn in Oct’21. (Bloomberg Cons: US$2.50bn)

Batuhan Ozsahin
ATA Invest
14 December 2021
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