ISTANBUL
Turkey aims to raise the voice of low-income developing economies during its G20 presidency that will in turn boost the global economy, Turkish Deputy Prime Minister responsible for economy, Ali Babacan, said Sunday.
Babacan made the remarks during a meeting titled “G20 Agenda under Turkish Presidency” organized by the Institute of International Finance in Istanbul.
The meeting was organized ahead of a two-day G20 meeting of finance ministers and central bank governors in Istanbul amid concerns over sluggish global growth.
Turkey took over the rotating-presidency of G20 in December.
Babacan said Turkey eyes a more inclusive global economy that would help beat the slow global growth rate.
"We will consider whether decisions taken at the G20 provide any good to the rest of the world," he said.
The World Bank estimates a global growth of three percent in 2015 after a "disappointing year" in 2014, according to the bank's January report.
Turkey also announced that its G20 program would focus more on small-and-medium enterprises to boost "entrepreneurship, innovation and employment," according to Babacan.
"Contribution of those big corporates are crucial for global economic growth, but we should not forget the other half," he said. "In many countries, SMEs generate half of employment and even 60-70 percent in some others," he added.
He noted the positive sign that the credit growth of banking sector stood at 16 percent, while loans for SMEs increased by 25 percent.
