8/27/2008

Capital markets pour $24 billion into economy

Today’s Zaman - Capital Markets Board (SPK) President Turan Erol said Turkey's capital markets have channeled $24 billion in financial resources to non-financial sectors since 2004. These transfers of funds took the form of initial and secondary public offerings, capital increases through cash and dividends additions, private bonds and commercial papers. In an interview with the Anatolia news agency, Erol said the biggest year for transfers to non-financial sectors was 2007, when $8,76 billion was sent to companies' coffers from capital markets. "Considering that 2008 has not ended yet and assuming that the current pace will continue until the end of the year, the resources transferred to the non-financial sectors from capital markets will likely surpass 2007," he predicted. This indicates that Turkey's capital markets are maintaining their vitality despite a shaky political atmosphere and global economic turbulence, he added.

ENGLISH