Turkish finmin hails developing nations as future powers

“Future lies not in Europe or in the US but in developing countries such as Brazil, Turkey, India, China and Russia” said Turkish Finance Minister Mehmet Simsek

Turkish finmin hails developing nations as future powers

World Bulletin/News Desk

"Future lies not in Europe or in the US but in developing countries such as Brazil, Turkey, India, China and Russia," Turkey's Finance Minister Mehmet Simsek told a televised interview on a private news channel on Thursday.

Simsek said he had some concerns on the revealed minutes of US FED meeting in July but added: "Turkey will come forward again when the dust is settled."

Simsek also said that the period of money printing in vast amounts will be left behind as the problems are related to that and FED’s policy change is not a crisis but just a re-pricing of assets.

Reacting to some wrong evaluations suggesting Turkey and other developing countries would be engulfed into crises at the end of this process, Simsek said the recent rise in interest rates is normal as the rate had dropped parallel to global liquidity and now they are back on rise. 

When asked how the FED decisions would affect Turkish markets Finance Minister Mehmet Simsek said citizens will not be affected much, companies' public supply could be partially affected but such situation will be temporary.

Also touching up on some other issues regarding recent local and global economic matters, Simsek emphasized that Turkey, a developing country such as Brazil, India, China and Russia has a better economic future, adding that Turkey is a country that survived many economic crises.

Simsek said a great trust in Turkey investments has accumulated and drew a positive picture for future economics on the program.

Güncelleme Tarihi: 22 Ağustos 2013, 16:21
YORUM EKLE