Turkey's Chief EU Negotiator Ali Babacan, who is also in charge of the treasury, said they were aware of their responsibilities: "Those who look from outside may perceive some risks and everybody may have some concerns. However, we are relaxed for we know well what we will do. We know things the business circles do not."

Speaking to the magazine BusinessWeek Turkey about the latest developments, Babacan emphasized that the macro targets for 2007 could be accomplished.

Babacan underlined the plans they prepared with the State Planning Organization, the treasury and the Central Bank showed that the five percent growth target set for 2007 was realistic.

"The Central Bank's projection shows that the target is achievable," Babacan said, adding that inflation and growth are in inverse proportion in developed countries but the case was different in Turkey.

"After interest and inflation fall to a reasonable level, Turkey, too, will have the same inverse proportion as in developed countries. As soon as we reach our four percent target in 2007, our economy will have the same structure as in developed countries," Ali Babacan said.

Stating the current account deficit increased but slowed down in November, Babacan said what needed to be considered was not the magnitude of the current account deficit but whether or not it could be financed