{"id":17026,"date":"2023-04-08T11:00:00","date_gmt":"2023-04-08T08:00:00","guid":{"rendered":"https:\/\/millidusunce.com\/misak\/?p=17026&#038;preview=true&#038;preview_id=17026"},"modified":"2023-04-08T01:23:47","modified_gmt":"2023-04-07T22:23:47","slug":"standard-poors-turkiyenin-kredi-notunu-kirdi","status":"publish","type":"post","link":"https:\/\/millidusunce.com\/misak\/standard-poors-turkiyenin-kredi-notunu-kirdi\/","title":{"rendered":"Standard &#038; Poor&#8217;s T\u00fcrkiye\u2019nin kredi notunu k\u0131rd\u0131"},"content":{"rendered":"<p>S&amp;P Global Ratings, Cuma g\u00fcn\u00fc T\u00fcrkiye&#8217;nin kredi notu\u00a0 g\u00f6r\u00fcn\u00fcm\u00fcn\u00fc &#8220;<em>dura\u011fan&#8221;dan &#8220;negatif<\/em>&#8220;e revize etmi\u015f, \u00a0uzun vadeli kredi notunu ise\u00a0 <em>\u201cB\u201d<\/em> olarak teyit etmi\u015ftir. Buna; \u00fclkenin d\u00fc\u015f\u00fck politika faizlerinden, y\u00f6nlendirilmi\u015f bor\u00e7 verme ve d\u00f6viz pozisyonlar\u0131 ve faiz oranlar\u0131 \u00fczerindeki d\u00fczenleyici kontrolden kaynaklanan k\u0131r\u0131lganl\u0131klar\u0131 gerek\u00e7e g\u00f6stermi\u015ftir.\u00a0\u00a0 \u015eubat ay\u0131n\u0131n ba\u015flar\u0131nda \u00fclkeyi vuran y\u0131k\u0131c\u0131\u00a0 depremin, 14 May\u0131s&#8217;taki cumhurba\u015fkanl\u0131\u011f\u0131 ve parlamento se\u00e7imleri \u00f6ncesinde enflasyonu y\u00fcksek tutmas\u0131 beklenmektedir.<\/p>\n<p>S&amp;P, enflasyonun 2023 y\u0131l\u0131nda ortalama y\u00fczde 44.6, 2024 y\u0131l\u0131nda y\u00fczde 22.4 olaca\u011f\u0131n\u0131 \u00f6ng\u00f6rm\u00fc\u015ft\u00fcr.\u00a0 Dolar kurunun ise 2023 sonunda 24 TL, 2024 sonunda 27 TL\u2019yi bulaca\u011f\u0131 tahmin edilmi\u015ftir. 2022 sonunda\u00a0 10.600 dolar olan ki\u015fi ba\u015f\u0131na d\u00fc\u015fen gelirin, 2023 sonu i\u00e7in 9.400 dolar, 2024 i\u00e7in 9.900 dolar olaca\u011f\u0131 \u00f6ng\u00f6r\u00fclm\u00fc\u015ft\u00fcr. 2022\u2019de y\u00fczde 5.6 olan ekonomik b\u00fcy\u00fcme,\u00a0 2023 i\u00e7in y\u00fczde 2.1, 2024 i\u00e7in y\u00fczde 2.8 olarak \u00a0tahmin edilmi\u015ftir.<\/p>\n<p>Kredi derecelendirme notlar\u0131; yabanc\u0131 sermayeye ihtiya\u00e7 duyan, d\u0131\u015f ticaret a\u00e7\u0131\u011f\u0131 bulunan geli\u015fme yolunda olan \u00a0\u00fclkeler i\u00e7in yabanc\u0131 yat\u0131r\u0131mc\u0131lar\u0131n o \u00fclkede yat\u0131r\u0131m yapabilmesi a\u00e7\u0131s\u0131ndan \u00a0\u00f6nemlidir. \u00a0 Kredi notlar\u0131 ne kadar y\u00fcksek olursa \u00a0\u00fclkeler; \u00a0bono, tahvil gibi menkul k\u0131ymetler ihra\u00e7 ederek yat\u0131r\u0131mc\u0131lardan bor\u00e7 al\u0131r ve sermaye piyasas\u0131nda kendilerine fon yarat\u0131rlar. Ayr\u0131ca, ald\u0131\u011f\u0131 borcun geri \u00f6demesini daha d\u00fc\u015f\u00fck faiz oran\u0131ndan \u00f6deyerek maliyetini azalt\u0131rlar.<\/p>\n<p>T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131, depremin ekonomi \u00fczerindeki etkisini hafifletmek i\u00e7in 23 \u015eubat&#8217;ta ana faiz oran\u0131n\u0131 y\u00fczde 8,5&#8217;e indirmi\u015ftir. S&amp;P yapt\u0131\u011f\u0131 a\u00e7\u0131klama \u015f\u00f6yledir: <em>&#8220;T\u00fcrkiye&#8217;nin artan cari hesap a\u00e7\u0131klar\u0131, s\u0131n\u0131rl\u0131 kullan\u0131labilir rezervleri, y\u00fcksek enflasyonu ve ara s\u0131ra sermaye giri\u015flerine ba\u011fl\u0131l\u0131\u011f\u0131 g\u00f6z \u00f6n\u00fcne al\u0131nd\u0131\u011f\u0131nda, d\u00f6viz kuru g\u00f6r\u00fcn\u00fcm\u00fc en iyi ihtimalle belirsizli\u011fini koruyor.&#8221;<\/em><\/p>\n<p>\u015eubat ay\u0131nda meydana gelen depremlerin ard\u0131ndan yeniden in\u015fan\u0131n, T\u00fcrkiye&#8217;nin gayrisafi yurt i\u00e7i has\u0131las\u0131n\u0131n (GSYH) y\u00fczde 12&#8217;si kadar i\u00e7 ve d\u0131\u015f finansman gerektirece\u011fi a\u00e7\u0131klanm\u0131\u015f, para ve finans sekt\u00f6r\u00fc politikalar\u0131n\u0131n \u00f6ng\u00f6r\u00fclebilirli\u011finin ve etkinli\u011finin artmas\u0131, ba\u015fta T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131\u2019n\u0131n (TCMB) net d\u00f6viz rezervleri olmak \u00fczere, \u00fclkenin \u00f6demeler dengesi pozisyonun g\u00fc\u00e7lenmesi halinde kredi notlar\u0131n\u0131n y\u00fckselebilece\u011fine i\u015faret edilmi\u015ftir. T\u00fcrkiye ekonomisinin bu y\u0131l y\u00fczde 2,1 ve gelecek y\u0131l y\u00fczde 2,8 b\u00fcy\u00fcmesinin beklendi\u011fi de a\u00e7\u0131klanm\u0131\u015ft\u0131r.<\/p>\n<p>Bir \u00fclkenin yat\u0131r\u0131m yap\u0131labilir \u00fclke olarak kabul edilebilmesi i\u00e7in, en az iki uluslararas\u0131 derecelendirme kurulu\u015fundan yat\u0131r\u0131m yap\u0131labilir notu almas\u0131 gerekir. Bu kurulu\u015flar, ABD\u2019de Securities and Exchange Commission (SEC) taraf\u0131ndan onaylanmal\u0131 ve kurulu\u015f Nationally Recognized Statistical Rating Organizations (NRSROs) kapsam\u0131nda olmal\u0131d\u0131r.<\/p>\n<p>G\u00fcn\u00fcm\u00fczde SEC taraf\u0131ndan NRSROs olarak kabul edilen 10 kurulu\u015f vard\u0131r. Bunlar; A. M. Best Company, Egan-Jones Rating Company,\u00a0Fitch Ratings Inc.,\u00a0Japan Credit Rating Agency Ltd, Kroll Bond Ratnig Agency,\u00a0Moody\u2019s Investors Service Inc.,\u00a0Morningstar Inc.,\u00a0Standart&amp;Poors\u00a0Global Ratings, DBRS. Inc., HR Ratings de Mexcico S.A. de C.V\u2019dir. (https:\/\/www.sec.gov\/ocr\/ocr-current-nrsros.html)<\/p>\n<p>Derecelendirme, \u00fclkenin finansal y\u00fck\u00fcml\u00fcl\u00fcklerini zaman\u0131nda yerine getirip getiremeyece\u011fini tahmin etmek \u00fczere ge\u00e7mi\u015f ve bug\u00fcnk\u00fc verilerine dayan\u0131larak yap\u0131lan bir s\u0131n\u0131fland\u0131rmad\u0131r. De\u011ferlendirmenin kolay anla\u015f\u0131lmas\u0131 i\u00e7in bu, sembollerle a\u00e7\u0131klan\u0131r. \u00dclkenin \u00a0borcunu zaman\u0131nda ve d\u00fczenli geri \u00f6deme kapasitesini \u00f6l\u00e7meye yarar.\u00a0Y\u00fcksek cari a\u00e7\u0131k, \u00f6zel sekt\u00f6r bor\u00e7lulu\u011fu, artan siyasi riskler, yava\u015flayan b\u00fcy\u00fcme, artan enflasyon not d\u00fc\u015f\u00fcrmede etkili fakt\u00f6rlerdir.<\/p>\n<p>\u00dclkeler i\u00e7in verilen notlar olan kredi derecelendirmesi (sovereign credit rating), \u00fclkedeki yat\u0131r\u0131m ortam\u0131n\u0131n risk seviyesini g\u00f6sterdi\u011fi i\u00e7in \u00a0\u00f6nemlidir. \u00c7\u00fcnk\u00fc notlar, \u00fclkelerde yat\u0131r\u0131m yapacak yat\u0131r\u0131mc\u0131lar taraf\u0131ndan kullan\u0131l\u0131r. Baz\u0131 yabanc\u0131 fonlar \u00fclkeye yat\u0131r\u0131m yapacaklar\u0131 zaman kredi notunun en az\u00a0(BBB-) ya da (Baa3)\u00a0(yat\u0131r\u0131m yap\u0131labilir seviye) olmas\u0131n\u0131 \u00a0isterler.<\/p>\n<p>Moody\u2019s, Standard &amp; Poor\u2019s ve Fitch Ratings\u2019in kredi derecelendirmeleri, <em>\u201ckredi notu\u201d <\/em>ve<em> \u201cg\u00f6r\u00fcn\u00fcm\u201d<\/em> olarak tan\u0131mlan\u0131r. Kolay anla\u015f\u0131labilmesi i\u00e7in\u00a0harflendirme yap\u0131l\u0131r.\u00a0Raporlarda \u00fclkenin k\u0131sa d\u00f6nem ekonomik durumunu g\u00f6steren g\u00f6r\u00fcn\u00fcmler yer al\u0131r. Bunlar; k\u0131sa d\u00f6nem (1-2 y\u0131l) kredi notunun\u00a0geli\u015fim y\u00f6n\u00fcn\u00fc\u00a0belirtir, <em>\u201cpozitif\u201d, \u201cdura\u011fan\u201d <\/em>ve<em> \u201cnegatif\u201d<\/em>\u00a0olarak notun yan\u0131nda yer al\u0131r.<\/p>\n<p>S&amp;P genelde olumsuz notlar verirken, Fitch daha objektif notland\u0131rma yapmaktad\u0131r. Moody\u2019s en iyimser kurulu\u015ftur ama ge\u00e7mi\u015fte uzun d\u00f6nemde bir\u00e7ok de\u011fi\u015fkenin etkilerini bar\u0131nd\u0131rmayan notlar da a\u00e7\u0131klam\u0131\u015ft\u0131r. Moody\u2019s i\u00e7in <em>\u201cs\u0131f\u0131rc\u0131 hoca\u201d<\/em> denmektedir. Moody\u2019s, Standard &amp; Poor\u2019s ve Fitch Ratings\u2019in \u00a0\u00fclkelerin de\u011ferlendirme notlar\u0131 a\u015fa\u011f\u0131daki tabloda verilmi\u015ftir.<\/p>\n<div id=\"attachment_17030\" style=\"width: 646px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-17030\" class=\"wp-image-17030 size-full\" src=\"https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-08_003912900.png\" alt=\"\" width=\"636\" height=\"587\" srcset=\"https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-08_003912900.png 636w, https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-08_003912900-300x277.png 300w, https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-08_003912900-150x138.png 150w\" sizes=\"auto, (max-width: 636px) 100vw, 636px\" \/><p id=\"caption-attachment-17030\" class=\"wp-caption-text\"><a href=\"https:\/\/dergipark.org.tr\/tr\/download\/article-file\/41780#:~:text=Kredi%20Derecelendirme%20Kurulu\u015flar\u0131%20ve%20Not%20Sistemleri&amp;text=Yat\u0131r\u0131m%20yap\u0131labilir%20bir%20g\u00f6r\u00fcn\u00fcme%20sahip,d\u00fc\u015f\u00fcn\u00fclen%20en%20y\u00fcksek%20riskli%20nottur.\" target=\"_blank\" rel=\"noopener\">G\u00f6rsel<\/a><\/p><\/div>\n<p>Kredi derecelendirme notu, \u00a0\u00fclkenin kendisine verilen bor\u00e7lar\u0131 geri \u00f6deyebilme kapasitesini \u00a0ya da \u00a0geri \u00f6deyememe olas\u0131l\u0131\u011f\u0131n\u0131 g\u00f6steren kredi riski de\u011ferlendirmesidir. Kurulu\u015flar kredi derecelendirme notunu belirlerken GSYH b\u00fcy\u00fcme, enflasyon,\u00a0 \u00a0i\u015fsizlik oran\u0131, cari i\u015flemler dengesi, \u00a0kamu bor\u00e7lanmalar\u0131 \u00a0gibi \u00fclkelerin makro ekonomik g\u00f6stergelerine bakarak ekonomik riski belirlerler. \u00a0Artan g\u0131da ve enerji fiyatlar\u0131 dahil olmak \u00fczere Rusya-Ukrayna sava\u015f\u0131n\u0131n T\u00fcrkiye&#8217;yi etkileyece\u011fi ka\u00e7\u0131n\u0131lmaz bir ger\u00e7ektir.<\/p>\n<p>T\u00fcrkiye&#8217;nin \u00f6demeler dengesi pozisyonu, T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131\u2019n\u0131n net d\u00f6viz rezervleri g\u00fc\u00e7lenirken kamu politikas\u0131n\u0131n ve para politikas\u0131 etkinli\u011finin s\u00fcrekli ve artan \u00f6ng\u00f6r\u00fclebilirli\u011finin g\u00f6zlemlenmesi durumunda, g\u00f6r\u00fcn\u00fcm\u00fcn dura\u011fan olarak revize edilebilece\u011fi\u00a0 a\u00e7\u0131klanm\u0131\u015ft\u0131r. T\u00fcrkiye ekonomisinin bu y\u0131l y\u00fczde 2,4 ve gelecek y\u0131l 2,9 b\u00fcy\u00fcmesinin beklendi\u011fi de belirtilmi\u015ftir.<\/p>\n<p>Bu kapsamda \u00fclke ekonomisinin siyasi karar merkezinden ne denli ba\u011f\u0131ms\u0131z oldu\u011funu belirten (Merkez Bankas\u0131 ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131) Ekonomik \u00d6zg\u00fcrl\u00fck Endeksi\u2019ndeki geli\u015fmeler\u00a0 \u00f6nemlidir. D\u00fcnya Ekonomik \u00d6zg\u00fcrl\u00fckler Endeksi \u00fclkelerin politika ve kurumlar\u0131yla ekonomik \u00f6zg\u00fcrl\u00fc\u011f\u00fc ne derece destekledi\u011fini \u00f6l\u00e7mektedir. <em>\u201cKamu b\u00fcy\u00fckl\u00fc\u011f\u00fc\u201d, \u201chukuk sistemi\u201d, \u201cm\u00fclkiyet haklar\u0131\u201d, \u201csa\u011flam para\u201d, \u201culuslararas\u0131 ticaret \u00f6zg\u00fcrl\u00fc\u011f\u00fc ve mevzuat\u201d <\/em>gibi 5 ba\u015fl\u0131\u011f\u0131 baz alarak \u00fclkeleri puanland\u0131rmaktad\u0131r.<\/p>\n<p>Heritage Foundation\u2019a g\u00f6re \u00a0ekonomik \u00f6zg\u00fcrl\u00fck, insan\u0131n \u00a0eme\u011fini ve mal\u0131n\u0131 kontrol etmesini kapsayan temel \u00a0bir hakt\u0131r. \u00a0Ekonomik olarak \u00f6zg\u00fcr bir toplumda ki\u015filerin \u00a0istedikleri \u015fekilde \u00e7al\u0131\u015fma, \u00fcretme, t\u00fcketme ve yat\u0131r\u0131m yapma \u00f6zg\u00fcrl\u00fc\u011f\u00fc \u00a0bulunurken, \u00a0h\u00fck\u00fcmetlerin de eme\u011fin, sermayenin ve mallar\u0131n serbest\u00e7e dola\u015fmas\u0131na izin vermesi gerekir.<\/p>\n<p>\u201c<em>Ekonomik \u00d6zg\u00fcrl\u00fckler: 2022 Raporu<\/em>\u201d,\u00a0Fraser Institude taraf\u0131ndan yay\u0131nlanm\u0131\u015ft\u0131r. \u00a0165 \u00fclkenin kar\u015f\u0131la\u015ft\u0131r\u0131ld\u0131\u011f\u0131 endekste T\u00fcrkiye, 2019 y\u0131l\u0131nda 6.49 puanla 111. s\u0131rada yer al\u0131rken 2020 y\u0131l\u0131nda 6.48 puana gerilemi\u015f ve bir basamak d\u00fc\u015fm\u00fc\u015ft\u00fcr. \u00a0T\u00fcrkiye,\u00a0 en az \u00f6zg\u00fcr olan \u00fclkeler kategorisinin bir basamak \u00fcst\u00fcnde yer alm\u0131\u015ft\u0131r.\u00a0 2018 y\u0131l\u0131nda 6.69 puanla 100\u2019nc\u00fc s\u0131rada idi.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-17028\" src=\"https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-07_002059052.png\" alt=\"\" width=\"771\" height=\"394\" srcset=\"https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-07_002059052.png 771w, https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-07_002059052-300x153.png 300w, https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-07_002059052-150x77.png 150w, https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-07_002059052-768x392.png 768w\" sizes=\"auto, (max-width: 771px) 100vw, 771px\" \/><\/p>\n<p>Raporda, artan g\u0131da ve enerji fiyatlar\u0131 dahil olmak \u00fczere Rusya-Ukrayna sava\u015f\u0131n\u0131n T\u00fcrkiye&#8217;yi etkileyece\u011fine \u00a0de\u011finilmi\u015ftir. T\u00fcrkiye&#8217;nin \u00f6demeler dengesi pozisyonu, T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131\u2019n\u0131n net d\u00f6viz rezervleri g\u00fc\u00e7lenirken kamu politikas\u0131n\u0131n ve para politikas\u0131 etkinli\u011finin s\u00fcrekli ve artan \u00f6ng\u00f6r\u00fclebilirli\u011finin g\u00f6zlemlenmesi durumunda, g\u00f6r\u00fcn\u00fcm\u00fcn dura\u011fan olarak revize edilebilece\u011fi\u00a0 a\u00e7\u0131klanm\u0131\u015ft\u0131r. T\u00fcrkiye ekonomisinin bu y\u0131l y\u00fczde 2,4 ve gelecek y\u0131l 2,9 b\u00fcy\u00fcmesinin beklendi\u011fi de belirtilmi\u015ftir.<\/p>\n<p>Uzun vadeli kredi derecelendirme notlar\u0131, en y\u00fcksek dereceyi g\u00f6steren AAA\u2019 dan ba\u015flay\u0131p en d\u00fc\u015f\u00fck kalite (temerr\u00fct) olan D\u2019ye kadard\u0131r.\u00a0 AA ve CCC kategorileri aras\u0131nda nispi ayr\u0131m\u0131 daha ayr\u0131nt\u0131l\u0131 yapabilmek i\u00e7in art\u0131 (+) ve eksi (-) i\u015faretleri kullan\u0131lmaktad\u0131r. Uzun vadeli AAA, AA, A, BBB ve k\u0131sa vadeli A1+, A1, A2, A3 kategorisinde derecelendirilen kurum ve menkul k\u0131ymetler, piyasa taraf\u0131ndan <em>\u201cyat\u0131r\u0131m yap\u0131labilir,\u201d<\/em>\u00a0 uzun vadeli BB, B, CCC ve k\u0131sa vadeli B, C kategorisinde derecelendirilen kurum ve menkul k\u0131ymetler, piyasa taraf\u0131ndan <em>\u201cspek\u00fclatif\u201d<\/em> olarak de\u011ferlendirilmektedir. A\u015fa\u011f\u0131daki tabloda \u201c<em>K\u0131sa D\u00f6nem\u201d <\/em>ve<em> \u201cUzun D\u00f6nem\u201d<\/em> notlar\u0131n anlamlar\u0131 verilmi\u015ftir.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-17029\" src=\"https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-07_002303020.png\" alt=\"\" width=\"683\" height=\"323\" srcset=\"https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-07_002303020.png 683w, https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-07_002303020-300x142.png 300w, https:\/\/millidusunce.com\/misak\/wp-content\/uploads\/2023\/04\/resim_2023-04-07_002303020-150x71.png 150w\" sizes=\"auto, (max-width: 683px) 100vw, 683px\" \/><\/p>\n<p>\u00dclke varl\u0131k fonlar\u0131, emeklilik fonlar\u0131 ve di\u011fer yat\u0131r\u0131mc\u0131lar taraf\u0131ndan T\u00fcrkiye&#8217;nin kredi de\u011ferlili\u011fini \u00f6l\u00e7mek i\u00e7in kullan\u0131lan kredi notu, \u00fclkenin bor\u00e7lanma maliyetleri \u00fczerinde b\u00fcy\u00fck etkiye sahiptir.\u00a0 Uzun vadeli kredi derecelendirme notlar\u0131 bir y\u0131l \u00fczeri orta ve uzun vadeye ili\u015fkin durumu yans\u0131tmakta, k\u0131sa vadeli kredi derecelendirme notu ise bir y\u0131la kadar olan s\u00fcreye ili\u015fkin \u00a0de\u011ferlendirmelerdir. Uzun vadeli kredi derecelendirme notlar\u0131, en y\u00fcksek kaliteyi g\u00f6steren AAA\u2019 dan ba\u015flay\u0131p en d\u00fc\u015f\u00fck kalite (temerr\u00fct) olan D\u2019ye kadard\u0131r. \u00a0AA ve CCC kategorileri aras\u0131nda nispi ayr\u0131m\u0131 daha ayr\u0131nt\u0131l\u0131 yapabilmek i\u00e7in art\u0131 (+) ve eksi (-) i\u015faretleri kullan\u0131lmaktad\u0131r.<\/p>\n<p>Uzun vadeli \u201c<em>AAA\u201d, \u201cAA\u201d, \u201cA\u201d, \u201cBBB\u201d<\/em> ve k\u0131sa vadeli <em>\u201cA1+\u201d, \u201cA1\u201d, \u201cA2\u201d, \u201cA3\u201d <\/em>kategorisinde derecelendirilen kurum ve menkul k\u0131ymetler, piyasa taraf\u0131ndan <em>\u201cyat\u0131r\u0131m yap\u0131labilir,\u201d<\/em> \u00a0uzun vadeli <em>\u201cBB\u201d, \u201cB\u201d, \u201cCCC\u201d <\/em>ve k\u0131sa vadeli<em> \u201cB\u201d, \u201cC\u201d<\/em> kategorisinde derecelendirilen kurum ve menkul k\u0131ymetler, piyasa taraf\u0131ndan <em>\u201cspek\u00fclatif\u201d<\/em> olarak de\u011ferlendirilmektedir.<\/p>\n<p>S&amp;P\u2019a g\u00f6re ge\u00e7ti\u011fimiz y\u0131la g\u00f6re T\u00fcrkiye\u2019nin ekonomi politikas\u0131 daha fazla \u00f6ng\u00f6r\u00fclemez hale gelmi\u015f ve \u00f6demeler dengesi riskleri ortaya \u00e7\u0131km\u0131\u015ft\u0131r. Rusya Ukrayna \u00e7at\u0131\u015fmas\u0131n\u0131n, T\u00fcrkiye\u2019nin \u00a0zay\u0131f olan \u00f6demeler dengesini daha da zay\u0131flataca\u011f\u0131na ve enflasyonu artt\u0131raca\u011f\u0131na dikkat \u00e7ekilmi\u015ftir.<\/p>\n<p>Enflasyon oran\u0131 uluslararas\u0131 derecelendirmelerde \u00f6nemli bir g\u00f6stergedir.\u00a0 Cumhurba\u015fkan\u0131 Erdo\u011fan, Arnavutluk gezisi sonras\u0131nda <em>\u00a0&#8220;Yava\u015f yava\u015f, kademeli \u015fekilde kur da d\u00fc\u015fecek, faiz de ayn\u0131 \u015fekilde d\u00fc\u015fecek ve 2022 bizim en parlak y\u0131l\u0131m\u0131z olacak, 2023\u2019e de zaten b\u00f6yle girece\u011fiz&#8221;<\/em> demi\u015ftir ama 2022 y\u0131l\u0131 i\u00e7in \u00a0Cumhurba\u015fkan\u0131\u2019n\u0131n tahmini do\u011fru \u00e7\u0131karmam\u0131\u015ft\u0131r. \u015eimdi \u00fcmit, 2023 y\u0131l\u0131 se\u00e7imleri sonras\u0131na kalm\u0131\u015ft\u0131r. Benim tahminim 2023, 2022 y\u0131l\u0131n\u0131 artacakt\u0131r. \u00c7\u00fcnk\u00fc ekonomik g\u00f6stergelerde bir iyile\u015fme yoktur.<\/p>\n<p>Hazine ve Maliye Bakan\u0131 Nureddin Nebati, Bankac\u0131l\u0131k\u00a0D\u00fczenleme ve Denetleme Kurumu (BDDK) taraf\u0131ndan a\u00e7\u0131klanan \u015eubat ay\u0131 bankac\u0131l\u0131k verilerine ili\u015fkin, <em>&#8220;Veriler, bankac\u0131l\u0131k sekt\u00f6r\u00fcm\u00fcz\u00fcn g\u00fc\u00e7l\u00fc sermaye yap\u0131s\u0131, y\u00fcksek aktif kalitesi ve karl\u0131l\u0131k oranlar\u0131yla son derece sa\u011fl\u0131kl\u0131 bir g\u00f6r\u00fcn\u00fcme sahip oldu\u011funu teyit eder niteliktedir<\/em>&#8221; demi\u015ftir ama bunun ne kadar ger\u00e7ek\u00e7i oldu\u011funu 14 May\u0131s sonras\u0131nda \u00a0g\u00f6rece\u011fiz.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard &#038; Poor&#8217;s \u00a0T\u00fcrkiye\u2019nin kredi notunu k\u0131rd\u0131.<\/p>\n","protected":false},"author":3,"featured_media":17033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ef_editorial_meta_date_first-draft-date":"","_ef_editorial_meta_paragraph_assignment":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[63],"tags":[],"coauthors":[6],"class_list":["post-17026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi"],"_links":{"self":[{"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/posts\/17026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/comments?post=17026"}],"version-history":[{"count":3,"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/posts\/17026\/revisions"}],"predecessor-version":[{"id":17035,"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/posts\/17026\/revisions\/17035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/media\/17033"}],"wp:attachment":[{"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/media?parent=17026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/categories?post=17026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/tags?post=17026"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/millidusunce.com\/misak\/wp-json\/wp\/v2\/coauthors?post=17026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}