Thursday, 25 June 2009
Turkey's State Minister for economy Ali Babacan said Turkey was among the countries that would recover from the economic crisis the soonest.
"International institutions show Turkey at the top of the countries that will recover from the crisis the soonest," Babacan said during the meeting of Organization for Economic Cooperation and Development (OECD) Council at Ministerial Level in Paris, France.
Babacan said that Turkey's economy was more resistant to the global crisis thanks to structural reforms made in 2002.
Turkey would enter economic growth process in the long term, thanks to structural reforms and the government's determination about macro-economic targets, Babacan said.
Babacan also said that the priority of the world was to ensure recovery from the economic crisis as soon as possible, and the following target was to ensure economic growth and stability.
The Turkish minister expressed the need for a more flexible global financial system to stand against new crisis, and the need to make international financial organizations more efficient.
Babacan also said that countries should follow more careful and active economic policies to overcome the crisis.
The Turkish economy minister said that countries were facing problems due to the crisis like increasing unemployment rate, deteriorated financial balances, and weakened financial institutions, and shared with OECD ministers his views about solutions of those problems.
Participants are discussing the measures to be taken against the global financial crisis in the two-day meeting.
OECD brings together the governments of countries committed to democracy and the market economy from around the world to support sustainable economic growth, boost employment, raise living standards, maintain financial stability, assist other countries' economic development and contribute to growth in world trade.
The Organisation provides a setting where governments compare policy experiences, seek answers to common problems, identify good practice and coordinate domestic and international policies.
For more than 40 years, OECD has been one of the world's largest and most reliable sources of comparable statistics and economic and social data. As well as collecting data, OECD monitors trends, analyses and forecasts economic developments and researches social changes or evolving patterns in trade, environment, agriculture, technology, taxation and more.
