- Turkey's snap parliamentary election to be held on November 1st seen to prolong policy indecision and intensify economic headwinds, and to mark a “negative” for credit rate of the country, urged international ratings company Moody's on Thursday.
Having stressed two general elections would be called in a brief time, Moody’s announced, adding that, “Decision to go to polls for snap election once again on such short notice is a 'negative' for Turkey’s credit rate."
“In this case, the necessary economic policies’ implementation to invigorate the economy having faced a slowdown, reduce the external kırgınlık, and recover the investment environment would be prolonged” warned the statement, having announced snap elections would extend the political uncertainty term.
The statement also urged, the raising geopolitical risks, existing (recession) in growing markets, and an external shock would raise the risk of financial instability.
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