ANKARA - Turkish State Minister Ali Babacan announced Thursday that Turkey`s debt servicing in 2007 will be 166.5 billion YTL. (One dollar equals 1.43 YTL).
``The Treasury is expected to repay 140.3 billion YTL domestic and 26.2 billion YTL foreign debt, as principals and interests``, Babacan told a press conference, when announcing Turkey`s 2007 borrowing program.
The minister stated that Turkey plans to borrow 17.8 billion YTL foreign debt and 104.2 billion YTL domestic debt next year.
Babacan also said in 2007 the Treasury would continue to keep a tight policy on reserve currency, pledging a resolute fiscal discipline and a determined fight against inflation.
``Turkey`s primary surplus target of 6.5 percent would remain the same in 2007 as in 2006``, the minister said, adding that ``the year-end primary surplus in 2006 totaled 38.4 billion YTL; 8.2 billion YTL more than initial expectations``.
Babacan praised the political stability as the main factor for Turkey`s success in economic program.
"Over the last four years, the government maintained a true environment of confidence in the economy," Babacan said.