ANKARA - Turkish Finance Minister Kemal Unakitan said Tuesday Turkey has met the Maastricht Criteria after the ratio of the debt stock that was calculated according to EU standards, over the country`s GNP fell under 60 percent.
"This is another indicator showing that the vulnerability in the debt burden has disappeared," he said.
Unakitan introduced to the parliament the draft law on 2008 Central Administration Budget.
During his speech, Unakitan said the concerns regarding the convertibility of public debts disappeared thanks to the macro-economic stability and fiscal discipline.
"In the upcoming period, nominal interests will decrease more. We will try to drag these interests down to one-digit figures," Unakitan said.
"We have no other alternative than sticking firmly to fiscal discipline," he added.
-TARGETS FOR 2008-
Unakitan made explanations regarding the 2008 Budget as well.
He said they expected the GNP to reach 716.6 billion YTL (1 USD equals 1.18 YTL), growth rate to reach 5.5 percent, year-end CPI to be 4 percent, export figures to increase to 117 billion USD, import figures to reach 182 billion USD and the income per capita to reach 7,000 USD in 2008.
Unakitan also said net budget incomes were determined as 204.6 billion YTL, the budgetary deficit as 18 billion YTL and the primary surplus as 38 billion YTL in 2008 Central Administration Budget.