MUSIAD announces report on Turkish economy

Turkey's Independent Industrialists' and Businessmen's Association announced a report on the economy on Monday.

MUSIAD announces report on Turkish economy


Turkey's Independent Industrialists' and Businessmen's Association (MUSIAD) announced a report on the economy on Monday.

Omer Cihad Vardan, chairman of MUSIAD, said that new foreign trade strategy of Turkey should be strengthened, and components of the strategy; production, finance, marketing and employment, should also be improved.

"It is obvious that the second generation reforms should be completed. We are still saying that judiciary reform and public administration reform are necessary and there is need for a pluralist, democratic and new constitution," he said.

Vardan said that fiscal rule was a right decision.

5 percent of growth rate could be accepted for hard times, but this ratio was not sufficient for Turkey, which aimed to fulfill structural transformation, he said.

"The second wave of the global economic crisis may come from Europe. The first waves of the crisis have been prevented, but other structures spoiled by crisis still pose a risk," he said.

Lack of compromise regarding basic and national issues is the only and the biggest risk for Turkey, he stated.


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Last Mod: 24 Mayıs 2010, 14:02
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