Analysts say 2009 to be tough year also for Turkey economy

Analysts estimated that economic growth could plunge to zero in Turkey due to a global finanical malady in 2009.

Analysts say 2009 to be tough year also for Turkey economy
Analysts estimated that economic growth could plunge to zero in Turkey due to a global finanical malady in 2009 however added that the country's economy was more resilient to such a crisis than it used to be in the past.

"2009 will be tough year for Turkey as it will be for many countries and the country's economy might stop growing. But Turkey is in a much better position now to tackle such a crisis," Eva Sanchez, JPMorgan Chase analyst, told a panel discussion in New York on the global financial crisis and its effects on Turkey.

Ernest Stern, former senior vice president at the World Bank, said Turkey banking system was strong and the ruling Justice and Development (AK) Party attached importance to structural reforms which have proved to efficient in reducing inflation and public debts, and boosting foreign investments.



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Last Mod: 28 Ocak 2009, 16:44
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