Turkish PM: Economy stronger after failed coup attempt

Turkish PM Binali Yildirim says the failed coup has strengthened rule of law in the country

Photo by: AA
Photo by: AA

Turkish Prime Minister Binali Yildirim is seen addressing a rally in Ankara via video link.

Turkey had emerged stronger and its economy was "still steady as a rock" despite the attempted coup last month, Prime Minister Binali Yildirim said on Monday. 

Addressing an anti-coup rally in Ankara via video link, Yildirim said, “Our economy is still steady as a rock, there wasn’t even a minor economic shock. But, this situation disturbed some parties.”

Yildirim said those 'unnerved' included Standard and Poor’s, the credit-rating agency that downgraded Turkey’s economic outlook. 

“They downgraded Turkey’s rating. Let it be, let them drop Turkey’s rating. We do not stand still with the help of their rating.”

“Our democracy and rule of law are also stronger than before the attempted coup.”

The US-based international credit rating agency downgraded Turkey’s main sovereign rating from BB+/B to BB/B on July 20, five days after the failed coup attempt to little effect.

Credit rating agency Moody’s on July 18 said it was reviewing Turkey’s credit rating.

The Turkish government has said the failed coup attempt was orchestrated by followers of Fethullah Terrorist Organization (FETO) leader Fetullah Gulen.

FETO is considered a terror organisation by Turkey, its leader is on Turkey’s most wanted terrorists' list and is accused of establishing and leading a "parallel state," composed of a network of followers who have infiltrated the judiciary, police force, army and other state agencies in order to control these institutions.

An extensive investigation into the organisation began after FETO was accused of attempting to overthrow the democratically elected Turkish government via a judicial coup in December 2013.

The failed coup attempt on July 15, 2016, resulted in the deaths of at least 246 people and wounded over 2,200. Turkey has requested the extradition Gulen from the US, where he lives in self-imposed exile.

TRTWorld and agencies