Turk minister seeks to soothe businessmen’s concerns

Turkey's Economy Minister Mehmet Simsek met with members of the Turkish Industrialists’ and Businessmen’s Association (TUSIAD) on Thursday and shared the government's strategy for the current account deficit and rising inflation.

 “There is no problem in Turkey that could not be solved. We have a very good strategy to over come the current account deficit and rising inflation. I shared this strategy with the businessmen. Our vision for Turkey is a country which is competitive in global aspect, turned into an information society, and completed the EU process," Simsek told reporters after the meeting.

According to the central bank, Turkey's consumer prices inflation is expected to be 9.64 percent, while the current account deficit is estimated to be around $50 billion at the end of 2008.

Ferit Sahenk, TUSIAD vice president, also said the meeting was fruitful and added Simsek’s presentation had helped to clarify some question marks. He also ruled out the claims of recent high tension between the government and TUSIAD.

TUSIAD has recently slammed the government for implementing populist political moves in the lead up to the country’s local elections. TUSIAD has raised its concerns over the increase in the amount of the funds transferred from the central budget to municipalities, the spending of resources in the unemployment fund and the cutting of the primary surplus target.

Photo: Hurriyet Archives