Turkish minister says prices of basic products to be high in 2011

Babacan commented on the impact of the measures announced by the Turkish Central Bank.

Turkish minister says prices of basic products to be high in 2011

Turkey's minister for economy said on Wednesday that prices of basic products such as foodstuff, metal and oil would proceed high and fluctuant in 2011.

Speaking at a press conference at Ankara's Esenboga Airport prior to his departure for the annual meeting of the World Economic Forum (WEF) in Davos, Turkish State Minister & Deputy Premier Ali Babacan said high prices in oil and food products would particularly affected Turkey.

"We doubt that this situation may have a certain effect on our inflation. However, we do not believe that there will be developments that change the course of our monetary policies," he said.

Upon a question, Babacan also commented on the impact of the measures announced by the Turkish Central Bank.

"Since Central Bank's recent measures, a significant amount of foreign exchange kept in short-term accounts has been taken abroad. When we look at the remaining accounts, we see that those who are considering a long-term investment are currently in Turkey. Now, those who are insisting on short-term transactions are staying away from our country. This is an important development," the minister said.


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Last Mod: 26 Ocak 2011, 14:26
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