BİZE ULAŞIN
- Borrowing by local and regional governments in Central and Eastern Europe (CEE) was rising rapidly, lead by soaring Turkish municipal loans, warned in a report released by the international rating company Standard & Poor's (S&P).
Total borrowings by local and regional governments in the region would increase by about 12 percent and exceed 7 billion euros in 2015, said in the report titled "Local And Regional Government Borrowing In Central And Eastern Europe" which was said, based on a comprehensive survey of municipal debt in 16 regional countries.
Local and regional governments in the Czech Republic, Poland, Romania and Turkey continued to dominate municipal debt issuance in the region, the report said.
"We also count on an acceleration of municipal borrowing in Turkey. We believe that the central government will encourage Turkish municipalities to raise public investments needed to support economic growth in the country. As a result, we expect Turkish municipal borrowing to increase by about 16 percent and return to their historical high of 1.9 billion, a level first achieved in 2013" S&P said in the report.
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