Turkish economy minister: extra measures might be called

Babacan said the government favored an increase of 20-25 percent in total volume loan for 2011.

Turkish economy minister: extra measures might be called

Turkey's economy minister has said a current upward movement in total loan volume might force the government to take some extra measures to avoid risk of "unmanageable current account deficit."

"Extra measures could follow if the total loan volume continues to increase for instance by 35-40 percent in the first three months of this year. Otherwise, current accounts deficit might go beyond manageable, acceptable dimensions," Ali Babacan told a televised interview on private news channel CNN Turk.

Babacan said the government favored an increase of 20-25 percent in total volume loan for 2011 which he said would conform with a 4.5-5 percent economic growth.

Babacan said risks still remained high in the world with coupling large budget deficits in the United States and Europe, adding that Turkey had studied various scenarios for 2011 and beyond to brace any future damage from possible fluctuations.

"We have made detailed analysis of economic prospects in developed economies and set our number one priority as maintaining financial stability," Babacan said.

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Last Mod: 17 Şubat 2011, 15:14
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