STOCKHOLM - Turkish government aimed to reduce inflation rate below 12 percent in 2004, Turkish State Minister and Deputy Prime Minister Mehmet Ali Sahin said on Monday.
Sahin attended a meeting held in Swedish capital Stockholm in order to inform Turkish citizens living in this country about capital market.
Turkish State Minister Sahin said that Turkey had recorded significant progress in 80 years since the Republic was founded but that progress was not sufficient.
Sahin added, ''Turkish economy grew by 5.9 percent as of the end of 2003. Economy will be better in 2004. Our government is determined to reach its targets. Turkish citizens mostly complain about high inflation and high cost of living. I would like to state that we have succeeded in fight against inflation in 17 months. We foresaw an inflation rate of 20 percent at the end of 2003 but this rate was recorded as 18 percent. Our inflation target for 2004 is 12 percent. And, current estimations show that inflation rate may be lower than 12 percent.''
Turkish State Minister Sahin and accompanying delegation are expected to return to Turkey on Tuesday.
(BRC) 05.04.2004