ECONOMICS - Turkey predicts brief economic impact from graft probe:
"Uncertainty caused by Turkey’s corruption scandal could hit economic growth in the near term, Finance Minister Mehmet Şimşek said on Jan. 7, while ratings agency Fitch warned that a prolonged crisis could weaken the country’s creditworthiness.
A wide-ranging graft investigation, cast by Prime Minister Tayyip Erdoğan as a plot to undermine his government, is shaking investor confidence in Turkey when the lira is languishing around record lows, inflation rising and growth slowing.
“We are facing a significant challenge in the political arena but we think this will not be long-lived,” Şimşek said in an interview on CNN Türk television."
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