OECD states which have a median rate of 78%. 2017 was the second consecutive year that saw more than 5.000 high net-worth individuals (HNWIs, defined as holding net assets of at least $1 million) leaving Turkey, reasons given as government crackdown on the media deterring investment, and loss of currency value against the U.S. dollar. A longstanding characteristic of the Turkish economy is a low savings rate. Since under the government of Recep Tayyip Erdoğan, Turkey has been running huge and growing current account deficits, reaching $7.1 billion by January 2018, while the rolling 12-month deficit rose to $51.6 billion, one of the largest current account deficits in the world. The economy has relied on capital inflows to fund private-sector excess, with Turkey's banks and big firms borrowing heavily, often in foreign currency. Under these conditions, Turkey must find about $200 billion a year to fund its wide current account deficit and maturing debt, always at risk of inflows drying up, having gross foreign currency reserves of just $85 billion. Turkey has been meeting the "60% Maastricht criteria" of the EU for government debt stock since 2004. Similarly, from 2002 to 2011, the budget deficit decreased from more than 10% to less than 3%, which is one of the EU's Maastricht criteria for the budget balance. In January 2010, International credit rating agency Moody's Investors Service upgraded Turkey's rating one notch. In 2012, credit ratings agency Fitch upgraded Turkey's credit rating to investment grade after an 18-year gap, followed by a ratings upgrade by credit ratings agency Moody's Investors Service in May 2013, as the service lifted Turkey's government bond ratings to the lowest investment grade, Moody's first investment-grade rating for Turkey in two decades and the service stated in its official statement that the nation's "recent and expected future improvements in key economic and public finance metrics" was the basis for the ratings boost. In March 2018, Moody's downgraded Turkey's sovereign debt into junk status, warning of an erosion of checks and balances under Recep Tayyip Erdoğan. In May 2018, credit ratings agency Standard & Poor's cut Turkey's debt rating further into junk territory, citing widening concern about the outlook for inflation amid a sell-off in the Turkish lira currency. Share prices in Turkey nearly doubled over the course of 2009. On 10 May 2017, the Borsa Istanbul (BIST-100 Index), the benchmark index of Turkey's stock market, set a