ANKARA - Prime Minister Recep Tayyip Erdogan said on Thursday that Turkey's foreign trade volume would exceed 110 billion U.S. dollars by the end of 2003.
Addressing the nation on the state-run TRT channel, Erdogan said that the government bettered economy and solved many administrative and social problems in one year after it had come to power.
Erdogan noted that Turkey needed new investments to prevent unemployment, one of the biggest problems of Turkey.
Therefore, they had done everything to lift obstacles before investments and would continue to do so, Erdogan stated.
Erdogan said that they would encourage foreign investors and they were eliminating bureaucratic procedures to that end.
Inflation rate had reached the lowest rate since 1977 thanks to the economic program and atmosphere of confidence in the country, Erdogan pointed out.
Erdogan said that there was a possibility to reach 20 percent inflation rate target by the end of 2003 and hoped to reduce inflation to one-digit number as of the end of 2004.
The government had to continue budgetary practices without making any concessions of financial discipline to continue those positive developments and make economic stability permanent, Erdogan stressed.
Erdogan said that the government would never tolerate extravagance in public expenditures and had taken measures to make public savings and would continue to do so.
The government would decrease tax burden on citizens in time, Erdogan pointed out.
Stating that financial zero year practice was ended taking into consideration demands of business world, Erdogan said that tax burden on institutions was reduced from 65 to 45 percent.
The government would continue talks on natural gas till it got a result in favor of Turkey, Erdogan noted.
Erdogan added that the government would continue to work day and night to raise living standards, ensure a strong democracy and legal system, a robust economy and a balanced social structure deserved by Turkish people.
(BRC) 30.10.2003