Turkey's 2009 budget deficit needed downward revision: Treasury

Turkish Treasury Undersecretary said that budget figures for 2009 should be revised downwards.

Turkey's 2009 budget deficit needed downward revision: Treasury

Turkish Treasury Undersecretary said Wednesday that budget figures for 2009 should be revised downwards.

"It is clear that a downward revision is required," Ibrahim Canakci told reporters after an international conference on "Turkey: A Safe Harbor for Investors" held in Istanbul.

Turkey's budget for 2009 is 259.1 billion Turkish Liras. Budget revenues are expected to amount to 248.7 billion TL with a deficit of 10.4 billion TL.

The government also targets 4 percent growth in 2009. However, in a survey on Monday, Turkish Central Bank revised the year-end growth in GDP down to zero percent from 0.4 percent.

Upon questions on talks with the International Monetary Fund, or IMF, Canakci said that both Turkish economy officials and the IMF agreed on a revision.

However, he said, there were some disagreements regarding several structural reforms in public finance.

"If some new moves are emerged to remove disagreements, we will share them with public," Canakci told reporters.

Canakci also reaffirmed Turkey's projections for 2009 to draw 10 billion USD of foreign direct investments.

"We think Turkey will preserve its share in global foreign direct investments in 2009. It was around 1.1 percent," he said.

AA

Last Mod: 12 Şubat 2009, 11:12
Add Comment