Finance

Startups draw $1.5 billion in investments

Turkish startups attracted investments totaling about $1.5 billion last year, according to a report released by Startup Centrum on Jan. 19. 

The total volume of investments in Turkish startups increased by ninefold in 2021 compared to the previous year, said Startup Centrum, a digital community that gets startups, talents, investors and incubators together.

External assets reach $307 billion

Turkey's external assets stood at $307.4 billion in November, 2021, indicating an increase of 20.3 percent from the end of 2020, the Central Bank's the International Investment Position (IIP) data have shown.

Liabilities, on the other hand, against non-residents were $527.8 billion, risin 17.6 percent.

Ministry notes new confirmations of Slovenia’s credit rating

Ljubljana – The credit rating agencies S&P Global and DBRS Morningstar have confirmed Slovenia’s credit rating, the Finance Ministry has announced. S&P Global confirmed the credit rating at AA- with a stable outlook and DBRS Morningstar at A with an equally stable outlook.

Central Bank intervenes in ‘unhealthy’ FX pricing

The Turkish Central Bank intervened in foreign exchange markets for a third time this month on Dec. 10, citing "unhealthy price formations."

"The Central Bank of the Republic of Turkey directly intervenes in the market via selling transactions due to unhealthy price formations in exchange rates," said the bank.

EBRD extends $25 mln for green buses in Mersin

Residents of Turkey's Mediterranean province of Mersin will enjoy a new environmentally friendly, modern and comfortable public transport service as 100 new compressed natural gas (CNG) powered buses are set to replace an aging fleet thanks to a new loan and grant package provided by the European Bank for Reconstruction and Development (EBRD).

Moody’s revises up GDP forecast

International credit rating agecny Moody's has revised up its Turkey growth forecast for this year from 9.2 percent to 11 percent.

"Moody's expects that real GDP growth will slow to around 4 percent in 2022, compared to this year's extraordinary growth rate that Moody's estimates will come in at around 11 percent," Moody's said on Dec. 3.

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