Turkish State Minister and EU chief negotiator Ali Babacan said in February 2007 that Türkiye's public debt as a share of gross national product was likely to come in under 60 percent, compared with roughly 63 percent across the European Union.
Babacan said the Turkish parliament was set to hold a session on EU affairs, fulfilling an expectation by the European Commission that member and candidate states report on discussions tied to the commission's work schedule. He also noted that the commission welcomed Türkiye's decision to adopt a road map covering the 2007 to 2013 period.
On recently passed mortgage legislation, Babacan said the law would open a secondary residential property market, broaden funding options for banks, and lower their financing costs. He added that flexible interest-rate provisions would allow borrowers to benefit automatically as rates decline.
Regarding employment, Babacan said the downward trend in unemployment that began in January would track economic growth. A three-year joint project with the World Bank is underway to support durable job creation, and the government is working to reduce the cost of hiring by discouraging overtime and promoting new positions.
An International Monetary Fund delegation is scheduled to visit Türkiye in March for a review, with the sixth, seventh, and eighth program reviews all expected to be completed during the year.
Historical summary. TurkishPress restated this wire report, first published in February 2007, in its own words.