Turkey follows S.Korea in OECD '10 growth estimate

According to OECD's predictions for its 30 members, Turkey would grow the fastest behind South Korea in 2010.

Turkey follows S.Korea in OECD '10 growth estimate

Turkish State Minister Cevdet Yilmaz said on Wednesday that G-20 member countries, including Turkey, would assume a very important role in rebuilding of the world after global economic crisis.

In an exclusive interview with the A.A correspondent, Yilmaz said 2009 was not a positive year for the world in economic sense. He said the world was expected to shrink by 1.1 percent and the world trade by 12 percent.

Yilmaz said failure to run the world well and instabilities in the world were the fundamental reasons of the crisis.

"The world has seen that the world could not be managed with 7-8 countries. G-20 member countries will play a very important role in reshaping of the world. The countries would individually carry out regulatory reforms and discipline finance markets more," Yilmaz said.

Yilmaz said need for coordination among the countries would increase, noting that, "there is a conviction in the whole world today that the 'worst was left behind'. Countries like the United States, China and India would perform well."

Commenting on Turkey, Yilmaz said Turkey would start to grow again most probably in the fourth quarter. "Turkey would be the country which will recover from the crisis fastest," he added.

According to OECD's predictions for its 30 members, Turkey would grow the fastest behind South Korea in 2010.

It was also estimated that Turkey would show a greater performance in 2011.

Yilmaz said Turkey would become a very important country in the next 5-10 years both in political and economic sense in its region. "However, we should not lose time with vicious circles and trivial arguments," he added.

Yilmaz said it was not possible to boost economy only with public investments, adding that private sector and special consumption should be on the rise.


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Last Mod: 23 Aralık 2009, 14:33
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