Ali Babacan said Turkey hoped things would become better in Europe, and noted that Greece, Spain, Portugal, Ireland and Italy raised its public expenditures as a measures in 2009 however Turkish government did just the opposite.
"We do not believe that economic growth can be achieved with additional public expenditures," Babacan told a press conference in New York.
Babacan said Turkey took measures to cut down budget deficit in 2009, and thus achieved a growth rate of 9 percent in 2010.
"Atmosphere of confidence is important, and state has to ensure atmosphere of confidence," Babacan said.
Babacan said it was not clear what kind of decisions Europe would make about 2012, and what kind of concrete steps would be taken regarding Euro zone.
The minister said European countries had serious structural problems, and they had to make structural reforms to overcome those problems.
Babacan also said Turkey's year-end growth projection for 2012 was 4 percent, but it could be upper or lower due to developments in Europe. |
Source : en.cumhuriyet.com
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