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AS TURKEY STRUGGLES to overcome the effects of more than a decade of chaos in its public sector finances, the private sector continues to be debilitated by restricted access to capital that threatens to limit growth.
“The single greatest ailment of the Turkish private sector is the crippling cost of capital compared with its competitors in the European Union,” says Murat Gulkan, director of research at Bender Securities in Istanbul.
“The high cost of borrowing and the limited use of the capital markets put the vast majority of Turkish companies at a great disadvantage.
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