10/10/2008

Economy minister: Turkish economy resilient to global meltdown

Today’s Zaman - The world is passing through a financial meltdown in which all major economies are being hit; however, Turkey's economy seems more resilient and much less fragile than many similar developing economies, Economy Minister Mehmet Simsek said. To stay afloat on this rough course of the global financial system, Turkey will need to proceed with caution, he stated. "The Turkish economy is being steered with strict fiscal discipline. Debt has a dynamic structure and issues pertaining to public deficits are not a source of serious concern," he added. There is no reduction in the determination of the government to advance, fully committed to the middle-term financial framework which the government prepared to protect the discipline while trying to reach its targets, the minister underlined.