Turkey’s finance minister says there is every sign Turkey’s economy is bouncing back.
Commenting at the 2nd Gold Summit in Istanbul, Mehmet Simsek predicted the economy will recover rapidly from the global economic crisis. “There are already several indications of recovery,” he said.
“In the past one or two months, there have been strong indications in both Turkey and the rest of the world that the markets are recovering. Especially in Europe, the developments are rather positive. In Turkey, export volume is experiencing minor growth and there is an increase also in the number of new enterprises.”
The banking sector, a crucial part of economic recovery, was in a healthy state before the economic crisis and was therefore dealt a lighter blow than the banking sectors of many other countries.
Simsek said Turkey is experiencing its lowest-ever inflation rate, and its low interest rates are helping growth in loans. “I expect the economy to recover from the crisis in the near future and this recovery will be permanent because the foundations of the economy are solid.”
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