Foreign investors 'confident in Turkish market'
Foreign investors are becomingly increasingly confident in investing in the Turkish market.
Murat Ulgen, chief economist at HSBC, said the country was being compared to other locations such as Brazil, because of comparable economic conditions.
Speaking to Turkish newspaper Sabah, he stated: "Investors regard Turkey as the new Brazil."
He added that interest rates were widely expected to fall in the near future, along with the rate of inflation.
Furthermore, Mr Ulgen said that the amount of money being ploughed into the market by foreign investors would exceed the current account deficit.
The comments come shortly after the Turkish Daily News highlighted increased levels of foreign investment in the country.
According to the publication, Turkey has become a high-growth market, as property investors are being offered the chance to get higher yields than they could in more established markets.
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