7/18/2008

Turkish Minister forecasts 12-14 bln USD of direct foreign capital inflow

TIMETURK - "Turkey forecasts a net foreign capital inflow of 12-14 billion USD this year," State Minister Mehmet Simsek told. Turkey was planning to draw gross 18 billion USD of direct foreign capital in 2008. Simsek said that foreign capital inflow was down 45.5 percent to 6.1 billion USD in the first five months of 2008, over the same period of 2007, and predicted that Turkey would draw less foreign capital in 2008 comparing to 2007. The minister explained the reason of this decrease in foreign capital influx as global economic problems and the indefiniteness in Turkey since March. "I believe that Turkey will overcome this indefinite time soon and draw giant investments again," Simsek said. Simsek also said that Turkey would make new reforms and attract investors. Direct foreign capital inflow in Turkey was 22 billion USD in 2007.

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