Skip to main content

How political risks wreck Turkey’s economic prospects

Turkey has lost its investment grade status with all top three credit-rating agencies, falling behind many regional countries despite its geopolitical edge.
A board showing the currency exchange rates of the U.S. dollar and the Euro against Turkish lira is on display at a currency exchange office in Istanbul, Turkey, January 11, 2017. REUTERS/Murad Sezer - RTX2YFYP
Read in 

Invest in Turkey — a promotional website by the Turkish government — lists 10 main reasons why foreign investors should put their money in the country. Highlighting geopolitical advantages, the site describes Turkey as “a natural bridge between both East-West and North-South axes, thus creating an efficient and cost-effective outlet to major markets.” The country, it says, has an “easy access to 1.6 billion customers in Europe, Eurasia, the Middle East and North Africa” and “multiple markets worth $24 trillion” in gross domestic product.

Turkey’s role as an “energy corridor” is also highlighted: The country sits “at a close proximity of more than 70% of the world’s proven primary energy reserves, while the largest energy consumer, which is Europe, is located right to the west of Turkey, thus making the country a linchpin in energy transit and an energy terminal in the region.”

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 per year.