"The two basic sources of the global crisis are banking sector and public finance. In both areas Turkey has made its reforms and it has a sound structure," Ali Babacan told a dinner held on the sidelines of MAPIC 2011, an international retail real estate fair, in Cannes, France.
Babacan indicated Turkey had been taking apt and timely measures in economy since 2002 in the areas of price stability, public finance and banking system which he said protected the country against fallout from the global economic downturn.
Babacan added that Turkey's economy grew nine percent in 2010 and that growth figures for 2011 were expected to stand between 7 percent and 8 percent.
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Source : en.cumhuriyet.com
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