WASHINGTON, D.C. - Turkish State Minister Ali Babacan has said that Turkey was well-prepared for economic shocks, and stated that general course in Turkish economy would not change even if the worst scenarios took place on issues such as the European Union (EU) and Cyprus issue.
Babacan, who is currently in the United States to attend the spring term meetings of the International Monetary Fund (IMF) and the meetings of the United Nations Economic and Social Council, held a press conference in Washington, D.C. on Saturday.
Although Turkish economy underwent serious shocks including Iraq war, Imarbank issue, bomb attacks in Istanbul and local elections in a year; economy reached its all targets, economic growth continued, there was decrease in public debt stock and target of inflation rate was reached, he noted.
Stating that according to latest surveys in Cyprus, it was expected that Turkish Cypriot side would vote in favor of the U.N. Secretary General Kofi Annan's plan on Cyprus and Greek Cypriot side would vote against the plan, Babacan noted, ''we want both north and south of the island to vote 'yes' to the plan in referenda and Cyprus issue to be solved. However, if there is majority of 'yes' votes in the north and majority of 'no' votes in the south of the island, there will not be Cyprus issue that will be brought by the European Union (EU) in front of us.''
Babacan underlined that Turkey was well-prepared for economic shocks and stated that they knew what to do and Turkey would have brighter days.
''Our economic program will continue no matter what will be in the EU issue. Our point of view will be the same irrespective of Turkey's getting a date from the EU in December,'' he noted.
Babacan said that he held meetings with U.S. officials and stated that they did not have any doubt or concern about Turkey and they were talking about next ten years of Turkey now.
When asked what sort of relation would be established with IMF after stand-by deal ended and whether or not Turkey would need a new loan, Babacan said, ''we don't talk about 2005 and later with IMF. But all alternatives are on the table. We will make a decision on it. We will make it public in mid-2004.''
Babacan noted that the United States said that they were ready to give 8.5 billion U.S. dollars which had been allocated for Turkish economy against negative effects of Iraq war and stated that if they considered it beneficial, they would receive the loan. He added that they made Turkey's 2004 financial program and they decided that there was no need for U.S. loan or additional source.
Babacan will attend spring term meetings of the IMF and the World Bank in Washington, D.C. the same day.
(EÖ-UK) 24.04.2004