10/13/2008

Turkish government vows package as business world worries

Hurriyet English - The Turkish government said it is preparing a package to avert the risk that the real sector can face as the leading figures of the Turkish business world raised their concerns over the global economic crisis and urged for measures. "We are working for a solution which will minimize the real sector's risks," Turkey's Industry Minister Zafer Caglayan said. "We should not say that we will not be affected. We - as a government, which can foresee the extent that this crisis could reach in the real sector- know the risks that we are facing." The expired IMF loan deal was seen as the major anchor of the Turkish economy in its recovery period after the devastating economic crisis in 2001. The deal expired in May and the government is yet to decide on the new form of future relations.