EuroFinance report: Turkey business confidence falls amid FX volatility

  • 85% of senior treasury and finance professionals in Turkey said they feel less confident about their business’s prospects in the next year
  • 93% are also less confident about Turkey’s economic prospects for the year ahead

Istanbul, Turkey – The vast majority of senior treasury and finance professionals in Turkey said they feel less confidence about their business’s prospects for the next year. Eighty-five per cent answered ‘no’ to the question ‘Compared to last year, do you feel more confident about your business’ prospects in the next year?’

An even higher proportion – 93% – also said they were less confident about Turkey’s economic prospects for the year ahead.

These were the key findings of the ‘Treasury Verdict’ live audience poll, taken at EuroFinance’s 11th annual conference on Cash, Treasury & Risk Management in Turkey, held in Istanbul. The session is sponsored by BNP Paribas.

“Although there was pervasive pessimism from the corporates, confidence is being hit by currency volatility and domestic uncertainty,” says Katharine Morton, editorial director at EuroFinance. “However, Turkey’s economic fundamentals remain good in the longer term and we remain cautiously optimistic.”

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