ANKARA - State Minister Ali Babacan said on Sunday that Turkey started to be considered as the star of international markets.
''After discussing the 2004 year budget in the parliamentary commission, the public financial administration bill will be taken up. We mentioned that in the sixth review. When those bills are adopted by the parliament, IMF Executive Board will convene,'' said Babacan.
State Minister Ali Babacan who is responsible for economy, attended a tv programme. When asked if the parliament had to approve the U.S. loan of 8.5 billion dollars and if Turkey needed that loan, Babacan said that the 2004 budget was prepared by not taking into consideration the transfer of that loan.
Babacan stated that the government didn't have any difficulty in the budget, but if the loan was going to be transferred it would be useful. Noting that both U.S. Secretary of Treasury and also the governor of U.S. Central Bank stated that Turkey could withdraw the loan whenever it wanted, Babacan said that ''we will withdraw the loan whenever we need it, we have a period of one year. This was not our demand. U.S. President Bush asked for additional budget from the U.S. Congress due to the Iraqi war. The additional budget mentioned to give a donation of 1 billion dollars or 8.5 billion dollars of loan to Turkey.''
Babacan stressed that they didn't consider any problem about borrowing programme of Turkey.
Upon a question, Babacan recalled that Sixth Review with the International Monetary Fund (IMF) was completed and letter of intent was signed and sent. He said that draft laws such as Public Finance Management and Public Reform were sent to Parliament within this scope.
Babacan said that Public Finance Management Draft Law had details and when talks on 2004 budget would end, this draft law would be taken up in the commission. He added that there were some small draft laws and when those were adopted at Parliament, IMF Executive Board would convene.
When asked what was unpleasing in Banking Regulation and Supervision Agency (BRSA), Babacan said that specialization was necessary on some issues and even one hour was important to solve problems in banking and added that a section would be reserved for BRSA at Council of State. He said that it was necessary to listen to sides before taking a decision and they were in favor of protecting the independence of higher boards, but also they believed that parts that were not functioning should be removed.
Babacan said regarding the privatization of Tobacco, Tobacco Products, Salt and Alcohol Enterprises (Tekel) that they were in the middle of a process and it would be wrong to say something about this issue at the moment.
(GC-ÖŞ) 09.11.2003