Structural reforms key, says Roubini

Speaking to Anatolia news agency, the economy professor, dubbed "Dr. Doom" for his pessimism on the global economy, said the Turkish economy is now less fragile, thanks to reforms undertaken in the aftermath of the 2000-2001 crisis.

The correction in global energy and commodity prices is helping Turkey manage the current account deficit, the Istanbul-born economist noted. "The only major concern is the debts of the private sector. Financing has to be provided to this end," he said.

Roubini is known for predicting the U.S. mortgage meltdown and the ensuing global financial crisis as early as October 2006. "Turkey is a dynamic economy," he said. "If correct policies are pursued and structural reforms are undertaken, the economy will be much better shaped in the medium term."

Turkey is "implementing its own economic program," but may also benefit from an agreement with the International Monetary Fund, Roubini added.

"The first benefit of such a deal would be restoring confidence in the markets," he continued. "The second benefit would be enhancing liquidity and exchange reserves. A Fund-supported program would lessen the effects of the global uncertainty."

Expecting a global recession, Roubini said economies might recover in 2010.