'No IMF prog can supersede reformist Turkish govt'

Mehmet Simsek, Turkish State Minister for Economy, said that "Probably, inflation will drop to single digit figures after effect of the shocks are overcome,"

'No IMF prog can supersede reformist Turkish govt'

Mehmet Simsek, Turkish State Minister for Economy, said on Thursday that no program (IMF program) could supersede a strong and a reformist government.

Speaking at a visit to Anadolu Agency HQ, Simsek said last two programs were concluded successfully, and noted that this could be achieved thanks to the decisive implementations of the government.

"17 program had been made before our government. It is clear that Turkey could not acquire much from those programs. Turkey passed through an important change and development, and abated some of its fragilities as the current government backed the last two programs by assuming a strong will." Simsek said.

"Even if there is an upward trend in inflation, actually, important and lasting acquisitions could be obtained in inflation. Probably, inflation will drop to single digit figures after effect of the shocks are overcome," Simsek said.

Referring to current account deficit, Simsek said this was a very important problem Turkey has been facing, and noted that, "Turkey takes this seriously, however this does not have an easy solution. What we should focus on is to improve competitive power, productivity, physical infrastructure and qualified human resources."

Simsek said important improvements could be ensured in banking sector within the scope of IMF program.

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Last Mod: 07 Ağustos 2008, 17:08
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