Babacan says Turkey gains in value after referendum

Turkey's deputy premier said that there was a rise in hot money flow and a decline in direct investments nowadays.

Babacan says Turkey gains in value after referendum

Turkey's deputy premier said on Friday that there was a rise in hot money flow and a decline in direct investments nowadays.

Appearing at a TV program on Bloomberg HT, Turkish State Minister & Deputy Premier Ali Babacan said Turkey currently experienced an input of short-term resources.

"Unfortunately, hot money constitutes a major part of the current capital flow into Turkey. I call it an unfortunate situation because direct investments are in decline. Last year there was the global crisis, however, direct investments are still not at a level we desire," Babacan said.

Noting that comments about Turkey were very positive nowadays, Babacan said the performance displayed by Turkey's national stock exchange in the last 10 days was totally a result of the latest referendum in the country.

Babacan noted that Turkey had gained in value after the September 12 referendum.

"The value of assets in Turkey increased after the referendum. Turkey has gained in value and it is a very important development. When you strengthen confidence, everything gets easier, but once such atmosphere is harmed, then you are afraid of economy as well," the deputy premier said.


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Last Mod: 22 Ekim 2010, 11:52
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