Finmin expects Turkey will be 9th biggest economy in forty years

Turkish Finance Minister said that Turkey would have shown a relatively better performance in macro-economic indicators if any second crisis will occur.

Finmin expects Turkey will be 9th biggest economy in forty years

Turkish Finance Minister Mehmet Simsek said on Saturday that if there had been a second global economic crisis in the world --which was a low possibility--, Turkey would have shown a relatively better performance in macro-economic indicators than other countries. 

Meeting with Turkish businessmen in France, Simsek said that it was important for Turkish investors abroad to come together with non-governmental organizations of that countries, adding that they should also be integrated well in culture, legal rules and regulations of that countries. 

Simsek said that while the global economic crisis negatively affected all sectors in the world, banking sector in Turkey was not affected. He said that loss of the banks was nearly 21 billion USD in 2001, while Turkish banking sectors made profit in such a crisis milieu. 

Noting that if Turkey continued on its current path, it would be the 9th biggest economy of the world by leaving France, Germany and Japan behind in 2040-2050, Simsek said that growth prediction for Turkey was 3.5 percent but this rate could rise to five percent. 

Simsek said that recently Turkey drew 22 billion USD of annual foreign investment, adding that Turkey, in global economic crisis period, drew 7.6 billion USD of net foreign capital.
 

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Güncelleme Tarihi: 20 Mart 2010, 18:17
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