Turkish PM and economy ministers discuss measures

Turkey's Prime Minister Tayyip Erdogan and several ministers responsible for economy, finance and industry met on Tuesday to focus on measures to be taken against global setback amid closure case.

Turkish PM and economy ministers discuss measures
Turkey's Prime Minister Tayyip Erdogan and several ministers responsible for economy, finance and industry met on Tuesday to focus on measures to be taken against global setback amid closure case, Hürriyet reported.

Deputy Prime Minister Nazim Ekren, State Ministers Kursad Tuzmen and Mehmet Simsek, Finance Minister Kemal Unakitan, Industry Minister Zafer Caglayan, as well as Prime Minister Tayyip Erdogan and Foreign Minister Ali Babacan attended the meeting.

External global developments had effected Turkey's current account deficit despite a 36 percent rise in exports, the written statement issued after the meeting said.

The statement, however, said economic growth continued and industrial output increased in Turkey. "Upturn in agricultural output, which declined last year due to a severe drought, will push economic growth this year," the statement read.

It also said that review of the stand-by arrangement carried out with the International Monetary Fund is expected to be completed soon. "Due to ongoing economic congestion, a 'vigilant stance' in macro economic policies remains important," it added.

The statement said the crisis in the international financial markets lasted longer than expected and it showed signals of a slowdown in developed economies, especially in the U.S, adding the budget performance in the first quarter of the year was stronger than expected with the help of an increase in the tax incomes.
Last Mod: 09 Nisan 2008, 14:30
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