Turkey has balanced public financing, says G-20 report
Posted by meb at March 10th, 2009
According to a recent report from the G-20, of which Turkey is a member, Turkey is among the few countries that have managed to adhere to a “balanced” public financing policy, the Anatolia news agency reported on Tuesday.
The G-20 report stated that despite the ongoing global financial crisis, Turkey has been able to maintain balance in its public expenditures. The report also suggested that inflation in Turkey was expected to decline this year and in 2010. The drop in inflation is mainly due to the decreasing prices of goods and shrinking demand in the domestic market, it said. The report stated that the stimulus packages announced by G-20 member states would contribute to their economic growth, if only to a limited extent.
Economy Minister Mehmet Şimşek will travel to London this week to represent Turkey at the upcoming G-20 meeting of economy ministers and central bank governors. Şimşek will have meetings with various senior officials, including officials from the International Monetary Fund (IMF) and the World Bank. Turkish Central Bank Governor Durmuş Yılmaz will also attend the G-20 meeting. On April 2, heads of state and government from G-20 countries will convene in London for a summit focused on the global economic crisis.
source: Today’s Zaman
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