Minister: Turkey's economic problems due to global crisis

Turkish State Minister Mehmet Simsek said Thursday Turkey is integrated into global financial markets and economies.

Minister: Turkey's economic problems due to global crisis
Simsek attended the Global Economic Symposium at the Plon Castle in Germany.

Speaking to Turkish reporters following the symposium, Simsek said that "Turkey is integrated into global financial markets and economies to a large extent."

"Turkey's trade volume in 2002 was 87 billion USD. Seemingly, the trade volume of Turkey would reach 350 billion USD in 2008. Turkey is rapidly receiving a higher share from global commerce. There are consequences of being integrated with the world. As you may understand, a problem in real estate in the United States causes global problems. Increasing energy prices in the world affects all nations," Simsek said.

"Most problems experienced by Turkey are due to global crisis. For example, had the prices of natural gas, oil and metal products not been so high, Turkey's current account deficit and inflation would have been less and the growth rate of Turkey could have been greater," Simsek added.

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Güncelleme Tarihi: 05 Eylül 2008, 13:13
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