3/14/2008

Turkish economy stronger, say ministers

NTV MSNBC - Turkey’s economy is better able to weather the strains placed upon it due to external shocks, being more resilient to blows such as the ongoing global credit crisis, a senior minister said this week. According to Economy Minister Mehmet Simsek, Turkey’s expanding gross domestic product and major reforms in the legislative pipeline will in the main insulate it from international financial traumas. Having revised Turkey’s GDP upwards by 30 percent, international credit rating agencies should look to improving their assessment of Turkey, Simsek told a press conference. Deputy Premier Nazim Ekren, who also took part in the press conference, said that when Turkey’s national income figures are released based on the updated system the changes in both per capita income and distribution among the groups will be clearly seen. The update aimed at producing data in line with international standards to facilitate a more precise comparison of Turkey’s economic figures against the international ones, Ekren said.