Istanbul rapidly declining in indices

Deputy Prime Minister Mehmet Şimşek said they considered Moody's rating cut important: "We take the rating cut seriously. We will make an effort to increase our rating in the medium and long term."  

Naturally, one's mind is confused. If you listen to the top administrators of the state and their "yes men," this could a conspiracy of the Gülenist movement, or the product of the "superior mind." Their envy about the third airport in Istanbul is another possible reason, of course. 

However, the deputy prime minister and the most experienced economist in the cabinet said they took this seriously and will work to improve it. 

There is no need to think about which one is right. The deputy prime minister knows that those people he has to convince for the future of the country's economy think rationally and he speaks their language. The others are playing for the stands; with their heroic and epic discourses, they are trying to prevent people from noticing the visible collapse in the economy. 

It is obvious that in the process of distancing itself from democracy and transforming into a Middle Eastern dictatorship, Turkey has rapidly lost its credibility in the world. We were once the "rising star" of the world; now even the stores on Turkey's most popular streets are closing.  

In the 2016 survey of the Global Financial Center Index, Istanbul went down to 57th place. For the past three years, Istanbul has been falling back regularly in this index. The reason is written in the same report: Corruption cannot be prevented; laws are not equally applied to everyone; tax laws are not simple, just, transparent or predictable. Taxing is used as a weapon to punish those companies that the government dislikes. We are also quite behind in...