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WORLD BANK COUNTRY DIRECTOR ZACHAU SAYS TURKISH ECONOMY ON RECOVERY TRACK
ANKARA - World Bank's Country Director for Turkey, Ulrich Zachau said Turkish economy was on recovery track.
20.01.2010 - Update : 20.01.2010
Zachau told AA Wednesday that economic recovery began in Q4 of 2009 adding that they expected Turkish economy grow at a rate of 3 to 4% as industrial production picked up.
Zachau underlined that improvements in employment lagged behind economic growth, noting that a slight improvement could be expected in 2010.
He said a strong implementation of 2010 budget and 2010-2012 Midterm program was key to improvement in employment.
Zachau said a new stand-by agreement with IMF could bring external financing and lower the government's dependence domestic borrowing.
Potential risks for Turkish economy was mostly external noting once again that a strong implementation of the midterm economic program was key to mitigation of these risks.
"Turkey still has firm financial foundations. Fundamental potential risks could be related with a new potential recession.
Another risk is potential decline in investor confidence due to domestic politics and economic factors," said Zachau. Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Zachau underlined that improvements in employment lagged behind economic growth, noting that a slight improvement could be expected in 2010.
He said a strong implementation of 2010 budget and 2010-2012 Midterm program was key to improvement in employment.
Zachau said a new stand-by agreement with IMF could bring external financing and lower the government's dependence domestic borrowing.
Potential risks for Turkish economy was mostly external noting once again that a strong implementation of the midterm economic program was key to mitigation of these risks.
"Turkey still has firm financial foundations. Fundamental potential risks could be related with a new potential recession.
Another risk is potential decline in investor confidence due to domestic politics and economic factors," said Zachau. Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
