Turkey's economy minister calls for caution despite recovery

Babacan advised caution against the future fallout from a global economic recession despite what he described as his country's achievements in its economic recovery.

Turkey's economy minister calls for caution despite recovery

Turkey's economy minister has advised caution against the future fallout from a global economic recession despite what he described as his country's achievements in its economic recovery.

"Turkey has seen record-low levels in interest rates and kept inflation rate below the target. Our country has exceeded targets in exports and it eyes to grow 6.8 percent. We should not let those achievements put us in a state of laziness. We should keep in mind that the world still endures the effects of the crisis and take our steps accordingly," Ali Babacan told on Monday a televised interview on private news channel HT Bloomberg.

Babacan recalled that a Turkish union of exporters announced today that the country's exports in 2010 had reached 113.686 billion USD, which marked a 11.3% increase from a year earlier.

"Export figures are well above the target set out in the Medium-Term Economic Program. And our exports to Europe might increase as Europe's economy is expecting for further growth," Babacan said.

Babacan said the government would not be dragged into a spending spree ahead of next general elections in July, adding that Turkey had taken strict measures to reign in budget deficit.


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Last Mod: 03 Ocak 2011, 15:49
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