Babacan says agricultural subsidy drops to single digit figure

Babacan said that agricultural subsidy lent to farmers has dropped to single digit figure.

Babacan says agricultural subsidy drops to single digit figure

Turkish State Minister & Deputy Prime Minister Ali Babacan said on Thursday that agricultural subsidy lent to farmers has dropped to single digit figure.

Speaking at a news conference with the director generals of Ziraat Bankasi and Halk Bankasi, Babacan said current rate of interest dropped to 13 percent and reflection of this would be 9.75 percent and 5.20 percent.

Babacan said both the opening of Ziraat Bankasi to public and rising of the free float rate in Halk Bankasi and Vakiflar bankasi would be important steps for privatization the the forthcoming period.

He said currently 25 percent of Halk Bankasi was open to public and 25 percent of Vakiflar Bankasi was open to public. "The government carries out a strategy study to open free float rate in Halk Bankasi and Vakiflar Bankasi," he added.

Asked to comment on risk management of private banks, Babacan said average of the banking sector was 5.2 percent and this was a figure admired by other countries.


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Last Mod: 14 Ocak 2010, 15:34
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