Babacan: Turkish Economy Is Based On Strong Foundation

ROME - State Minister Ali Babacan said on Wednesday that Turkish economy was based on strong foundation.
Responding to questions of A.A correspondent before leaving Rome for Athens, Babacan said that all parameters in economy were positive and that there was a strong and resolved government behind the economic programme.
''Therefore we will not permit anybody to disturb the existing stability and peaceful atmosphere. There are basic policies which we announced: strict finance policy, strict monetary policy and floating exchange rate system. These are our medium and long term basic policies. We won't give concessions from these policies,'' he said.
Babacan said that the words of economic crises and devaluation should be taken out from the dictionaries, adding that there could be no devaluation in floating exchange rate system. Babacan said that there could be natural fluctuations within the floating exchange rate system.
Babacan stressed that it was also accepted abroad that the Turkish economy had strong basis, adding that ''we participated in various meetings in five different cities of Europe during the last six days. The trust in Turkish economy is very strong and it further strengthens.''
(ÖŞ-AY) 22.10.2003