Turkish State Minister Ali Babacan told reporters in Ankara on Monday that the government has no intention of calling early elections, and that scheduled elections next year pose no threat to the country's economic program.
Speaking at the Treasury Undersecretariat, Babacan highlighted that foreign direct investment into Türkiye hit an all-time high in 2005, reaching 9.7 billion USD, a 3.5-fold increase over the prior year. Of that total, 1.9 billion went into real estate and 1.5 billion into privatization bids.
The top five source countries, the United States, British Virgin Islands, Lebanon, Belgium, and Italy, collectively accounted for 6.7 billion USD, or roughly 70 percent of all foreign inflows that year. Nearly 9,700 foreign-owned companies were registered in Türkiye during 2005, with the strongest interest in services, retail, real estate, manufacturing, and textiles.
Babacan credited consistent macroeconomic policy and a 2003 foreign investment law with improving Türkiye's standing among international investors. In the first quarter of 2006, inflows reached 1 billion USD, a figure that excludes capital expected from the pending privatizations of Telsim and Türk Telekom.
The minister also announced that the Investment Advisory Council is scheduled to meet in Istanbul on 29 June.
Historical summary. TurkishPress restated this wire report, first published in May 2006, in its own words.