2010 was year of growth for Turkish economy, Babacan says

The greatest danger in the management of an economy lies in raising expectations to high points, Turkish minister says

2010 was year of growth for Turkish economy, Babacan says

Turkish State Minister and Deputy Prime Minister Ali Babacan said Saturday that the year 2010 was a year of growth for the Turkish economy although the same year posed great problems for the developed countries.

Speaking to the AA, Ali Babacan said that risks in 2011 in developed economies would continue but that Turkey would preserve her stability and continue to grow in the new year.

"We are more concerned with the current account deficit in Turkey than inflation figures in 2011," Babacan said.

Touching on the Turkish Central Bank and its governor, Babacan said that there was no legal barrier in re-appointing the current Central Bank Governor Durmus Yilmaz to the same post.

"There is only a limit of age for the Central Bank Governor. We can not announce the name of (a new) Central Bank Governor well ahead of time," Babacan said.

"Our Central Bank listens to all views, including those coming from exporters and ministers. Yet the Central Bank makes its own independent decision after listening to all relevant parties," Babacan underlined.

The greatest danger in the management of an economy lies in raising expectations to a very high point and in not being able to reach those expectations, Babacan also said.

AA

Last Mod: 01 Ocak 2011, 15:39
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