Crisis effect on Turkey remains 6-7 more months: Minister

Turkey's Industry and Trade Minister said that they expected global financial crisis to continue to effect Turkish economy for 6 or 7 more months in 2009.

Crisis effect on Turkey remains 6-7 more months: Minister
Turkey's Industry and Trade Minister Zafer Caglayan said Monday that they expected global financial crisis to continue to effect Turkish economy for 6 or 7 more months in 2009.

Speaking to NTV private channel, Caglayan said the automotive sector in Turkey shrank by 60 percent, noting that this was due to the recent situation in European markets which received 90 percent of Turkey's automotive exports.

Caglayan said that different from the world, the crisis started showing its effects on Turkey's real sector rather than the financial sector, noting that the government prepared action plans to help support and transform Turkey's automotive, textiles and garment sectors.

He said short medium and long term action plans regarding textiles and garment sectors would be launched once the draft package --which would be discussed Tuesday at the parliament-- was adopted.

Caglayan said he would propose the Economy Coordination Board to announce its action plan regarding automotive sector in today's meeting.

Also commenting on the unemployment figures, Caglayan said the loss of jobs in production sector was 2 percent, adding that this corresponded to 30 percent of the total decline in employment figures.

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Last Mod: 17 Şubat 2009, 11:15
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