ANKARA - Turkish State Minister Mehmet Simsek said Friday Turkey and the International Monetary Fund (IMF) have completed the seventh review.
"We have prepared a draft letter of intent and agreed on its outlines," he told a joint press conference with IMF Turkey Mission Chief Lorenzo Giorgianni at the Treasury Undersecretariat in Ankara.
Simsek said Turkish executives and the IMF team debated recent economic developments, progress in structural reforms and targets for 2008, particularly the social security, tax administration and financial sector reforms.
"Turkey continues to grow for 23 quarters without any interruption," he told after he said Turkey's annual average growth rate was 7.4 percent between 2002 and 2006.
According to Simsek, economic policies and stability had a great role in the growth rate.
Simsek forecast Turkey's growth around 4 percent for 2007 and 5.5 percent in 2008, and the current accounts deficit around 8 percent of the Gross National Product (GNP) in 2008.
"The economy administration will maintain its discipline and determination and take all steps to increase Turkey's level of welfare," he told.
Simsek said rehabilitating the business atmosphere, preventing unregistered economy, making labor force market more efficient, improving and strengthening financial system, rehabilitating transportation and energy industries, promoting R&D, and broadening information and communication technologies are among the targets of the economy management.