Saturday, 26 September 2009The Turkish premier said on Friday that he thought there were still some economic risks.
Turkey's Prime Minister Recep Tayyip Erdogan said that he believed there were still some serious economic risks in the world despite global recovery signals.
"Bank balance sheets have not become robust yet, which still blocks loan channels," Erdogan told a meeting on global economic recovery on the sidelines of the G-20 summit in Pittsburgh, United States.
Erdogan underlined importance of increasing domestic demand and growth in Europe for a robust and balanced global growth.
Also, the Turkish prime minister said there would be need for medium and long term initiatives to combat unemployment.
Erdogan said Turkey aimed to gradually reduce the ratio of its budget deficit to the national income, and keep it at 3 percent in 2010.
Also, public debt stock would start to reduce as of 2012, Erdogan said.
The Turkish premier said there were many structural reforms in Turkey's medium term economic program that would make rehabilitation in financial balances more permanent.
Erdogan enumerated some important structural reforms in the medium term economic program as continuation of privatization bids, strengthening labor force training programs to increase flexibility of labor force market, giving priority to active labor force programs, and implementing Istanbul Finance Center Project.
Turkey's Prime Minister Recep Tayyip Erdogan said he believed cooperation between G-20 countries should be boosted for a more sustainable and balanced global growth.
The Group of Twenty (G-20) Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy.
Pittsburgh, Pennsylvania is host to the G-20 Summit being held on September 24-25, 2009. U.S. President Barack Obama is chairing this meeting of leaders from countries around the world that represent 85 percent of the world's economy. At the Pittsburgh G-20 Summit, leaders are reviewing the progress made since the Washington and London Summits and together they are discussing further actions to assure a sound and sustainable recovery from the global financial and economic crisis. |
Saturday, 26 September 2009
PITTSBURGH (A.A)
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