Turkey's economy minister estimated Monday his country could see a shrinkage of over 3.6 percent for 2009 amid what he described as "the worst crisis of modern history of economy."
"There is a possibility that we would have to revise the growth rate. Current estimations show we might face a figure worse than minus 3.6 percent this year, and we all have to be prepared for that," State Minister and Deputy Prime Minister Ali Babacan told a televised interview on private news channel citing a plummeting demand for Turkish export goods in markets abroad that hit the Turkey's foreign trade badly.
Babacan said despite a negative growth trend for the first three quarters, the figures were expected to turn to positive in Q4.
The Turkish minister also predicted that current deficit would be well below 10 billion USD in 2009.
Güncelleme Tarihi: 09 Haziran 2009, 09:12