9/14/2009

OECD: Turkey to resume fast economic growth in 2010

Hurriyet Daily News - Turkey can resume a fast track of economic growth as of 2010, a senior official from the Organization for Economic Cooperation and Development (OECD) has estimated. "Turkey has achieved fast economic growth until the last couple of years, yet the global economic crisis has slowed the growth rate. However, as recent figures have issued the signals of a revival, I believe that Turkey will resume a fast track of economic growth next year if it keeps up with structural reform", Aart De Geus, the OECD's Deputy Secretary-general, stated at a symposium on the global economy in the German town of Plön. De Geus underlined the importance of Turkey's resilient banking sector, which he said gave the country a considerable advantage as the global recession hit banking sectors in developed countries. The OECD official said that the measures taken by Turkey in the banking sector constituted a model in G-20 as well.