Turkish Minister forecasts 12-14 bln USD of direct foreign capital inflow

TIMETURK - "Türkiye forecasts a net foreign capital inflow of 12-14 billion USD this year," State Minister Mehmet Simsek told. Türkiye was planning to draw gross 18 billion USD of direct foreign capital in 2008. Simsek said that foreign capital inflow was down 45.5 percent to 6.1 billion USD in the first five months of 2008, over the same period of 2007, and predicted that Türkiye would draw less foreign capital in 2008 comparing to 2007. The minister explained the reason of this decrease in foreign capital influx as global economic problems and the indefiniteness in Türkiye since March. "I believe that Türkiye will overcome this indefinite time soon and draw giant investments again," Simsek said. Simsek also said that Türkiye would make new reforms and attract investors. Direct foreign capital inflow in Türkiye was 22 billion USD in 2007.