Investor Confidence in Turkey Back to 2007 Levels

Posted on 02 December 2010

According to the Deloitte “Private Equity Confidence Survey,” or PECS, investors have the same level of confidence in Turkey as they did in 2007 before the international financial crisis first reared its ugly head.

The PECS report is based on the results of a huge survey asking the views of private equity investors on the outlook for the following 6 months, it is an excellent gauge of how confident investors are in the economic climate, the availability of funding and the level of activity in the investment markets.

Because of the scale of the survey and the fact that it is an open forum for predictions on the short term future, it is often a very good indicator of what direction the level of investments is flowing, and in Turkey right now that is definitely up.

The latest report, which surveyed 50 investors in September, said that many of the responses now are similar to those seen in the first half of 2007. “Thus we might conclude that investors’ confidence in Turkey has now fully recovered from the problems of the global recession,” said the report.

The report also said the Istanbul Stock Exchange ISE-100 index was recently testing new highs, just above its previous peak in late 2007.

“In Turkey we do not see the fears prevalent in some Western European countries that lingering weaknesses in the banking sector will hinder lending and therefore recovery,” the report said. “The banks appear to be in robust good health. Government finances are not under particular strain. The contrast with the weaker members of the eurozone is dramatic.”

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