Turkish govt focuses on med-term economy program

Turkish government has focused on medium term economy program which it sees as a priority.

Turkish govt focuses on med-term economy program

Turkish government has focused on medium term economy program which it sees as a priority, and a loan deal with the International Monetary Fund, or IMF, remains unclear, could contribute to Turkey's economy program, Turkey's economy minister said on Wednesday.

Turkish State Minister & Deputy Prime Minister Ali Babacan said that Turkey would first prepare its own medium term economy program and later seek support from international organizations.

"If these international organizations decide to support our mid-term program, we would be pleased to receive their support. Although we think it is not an indispensable condition, a deal with the IMF would raise confidence in Turkey, however, it would not be enough on its own," Babacan said.

Turkey and the Washington-based lender are holding talks on a possible loan deal for months. In May, Turkey completed a 10-billion USD stand-by arrangement with IMF.

In July, Turkish Prime Minister Recep Tayyip Erdogan said his government was eager to strike a deal with the Fund ahead of an international IMF meeting in Istanbul scheduled for October.

Babacan also said that the mid-term program aimed to plan the future of Turkish economy for the period after 2012 and it also targeted to stabilize single-digit inflation rate which he said was still a chronic problem.

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Last Mod: 26 Ağustos 2009, 17:16
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