Minister expects Turkey to maintain strong economic growth

Simsek said he expected the recent strong economic growth in Turkey to continue though not at rates recorded in the first half of the year.

Minister expects Turkey to maintain strong economic growth

Turkey's Finance Minister Mehmet Simsek said he expected the recent strong economic growth in Turkey to continue though not at rates recorded in the first half of the year.

Simsek who spoke to reporters Wednesday at the OECD's Forum on Tax Administration (FTA) in Istanbul said it was highly probable for Turkey to maintain a strong economic growth, but not likely at rates as high as H1, as Turkey lacked the necessary savings ratio or access to international funds.

The country's statistics authority, TurkStat, announced Tuesday that the Turkish economy grew 10.3%, making Turkey one of the fastest growing economies of the G20.

"Of course, the growth will not continue at these rates. But there are various factors that will secure the continuation of a strong economic growth. Turkey created 2 million jobs
since the bottom of the downturn," said Simsek.

He said creation of new jobs, the strong balance sheet of the banking sector and improving indicators in public finance were factors fuelling economic growth.

He said though growth rates in H2 might be lower than H1, Turkey would nevertheless be the fastest growing country in 2010 among OECD countries and EU member states.


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Last Mod: 15 Eylül 2010, 11:54
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