Turkey's foreign currency reserves reach 114 b. dlr.: Babacan

"Turkey's foreign currency reserves reach 114 billion USD," Turkish State Minister and Chief Negotiator for EU talks Ali Babacan said.

Turkey's foreign currency reserves reach 114 b. dlr.: Babacan
"Turkey's foreign currency reserves reach 114 billion USD," Turkish State Minister and Chief Negotiator for EU talks Ali Babacan said.

Speaking to the A.A, Babacan indicated that "while total deposits in Turkish banks were 129 billion YTL in 2002, the total deposits climbed to 298 billion YTL by July 6th, 2007".

"Such a number shows the confidence of Turkish people in the Turkish economy," stressed Babacan.

Babacan remarked that "as long as oil prices do not rise dramatically, no price hike will take place for electric and natural gas".

Ali Babacan added that the recent records at the Istanbul Stock Exchange were expected and are normal in a well functioning economy.

Turkishpress

Güncelleme Tarihi: 17 Temmuz 2007, 14:13
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