State Minister Babacan Leaves For Berlin

BABACAN: ''SUCCESS OF CENTRAL BANK IN DISINFLATION IN THE PAST TWO YEARS IS OBVIOUS''
ANKARA - State Minister Ali Babacan said on Tuesday that success of Central Bank shown in disinflation in the past two years was obvious.
Babacan responded to questions of reporters in Ankara's Esenboga Airport before leaving for Berlin to participate in International Finance Corporation (IFC) annual meetings.
Pointing out that success of Central Bank in disinflation in the past two years was obvious, Babacan recalled that increase in consumer price index, which had been targeted as 35 percent last year, could only be 29.7 percent.
When journalists recalled the statements of Ankara Chamber of Commerce (ATO) Chairman about the increase in importation, Babacan said it was impossible to compare the policies which had been implemented in 2001 February crisis atmosphere, with today's policies.
Babacan said Turkey implemented floating exchange rate regime currently.
Babacan said it should not be forgotten that exchange rates were set up within the framework of free market principles.
(AY) 03.06.2003