"We expect that the EU announces a concrete solution to the problems regarding the European banking system and high public debts before G-20 gathers for the leaders' summit," Ali Babacan told Saturday the Group of Twenty meeting of finance ministers and central bank governors in Paris, warning that the cost of letting Greece default would be much higher than bailing the country out.
Speaking about Turkey's economy, Babacan said the country was expected to grow 7.4 percent in 2011 and 4 percent in 2012, adding that the government was determined to continue implementing a tight fiscal discipline.
Babacan said Turkey expected that its budget deficit as percentage of its GDP to drop to 1.5 percent next year from a current 1.7 percent, and to 1 percent with a reduced debt-GDP ratio of 32 percent in 2014. |
Source : en.cumhuriyet.com
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