PM Erdogan: Turkey does not need IMF deal

Erdogan said that Turkey's growth target was again fixed as 7 percent and the government would not make concession on this matter.

PM Erdogan: Turkey does not need IMF deal

Turkey's prime minister said on Wednesday that Turkey did no more need the International Monetary Fund (IMF).

Premier Recep Tayyip Erdogan said Turkey did not need the fund in its monetary affairs.

"Turkey had 23.5 billion USD of IMF debt when we came to power five and a half years ago, but today we only have 10 billion USD of debt," Erdogan said during a round-table meeting organized by the Economist Conferences --a branch of the Economist-- in Istanbul.

Erdogan underlined importance of IMF in accreditation and said that technical works continued between authorities of the related state ministry and the IMF.

"I think that we will conclude these technical works soon and make public our decision," he told the participants.

On energy, Erdogan said that Turkey would make serious investments in hydroelectrical power plants in the following five to ten years.

"This will lower electricity prices," Erdogan also said.

Erdogan said that Turkey would also invest in thermic power plants, and announced that the country would open a tender to construct two power plants in Afsin-Elbistan region.

The prime minister said that Turkey would also start using nuclear energy although the investment process was a long one.

Enough energy for next 3 years


PM Erdogan stressed that said Turkey is feasible enough to meet its energy needs for next 3 years.

Erdogan said that short, medium and long term investments have been under way in the area of energy in Turkey.

The government has been working on the area of nuclear energy, he said in a round-table meeting of the Economist Conferences in Istanbul.

"We aim to establish nuclear energy power plants in Akkuyu as well as Sinop. When the two power plants starts to operate, they will provide energy of nearly 10,000 megawatts to Turkey," he stated.

New growth target

Erdogan announced the new growth target as 7 percent.

Erdogan said that Turkey's growth target was again fixed as 7 percent and the government would not make concession on this matter.

"Our growth rate will not drop below 4 or 5 percent, and we will maintain our efforts to keep our 7 percent target," he said in a round-table meeting of the Economist Conferences in Istanbul.

Erdogan underlined importance of investments to achieve the growth rate target.

On interest rates and inflation risk, Erdogan said that the interest rates were around 22 percent and high interest rates pushed inflation upwards.

"Turkey has the dynamism and necessary infrastructure to recover (promptly)," the premier added.

Erdogan also said that the government would speed up the investment process, and this would relieve Turkey.


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Last Mod: 25 Haziran 2008, 18:12
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