Exporters Like Turkey Should Have High Reserves, Tuzmen

ANKARA - Turkish State Minister Kursad Tuzmen said Monday that exporter countries like Turkey should keep high reserves (of foreign exchange).
Receiving a delegation from the Ankara Chamber of Industry (ASO), Tuzmen said the reserves should at least be equal to export figures.
"They should even exceed export figures," he added.
Commenting on the inflation, Tuzmen said, "We all accept that there is a serious --more than 100 percent-- deviation from our inflation targeting calculation".
"Our targets should be realistic. If we set a 4 percent target now and it turns out to be 9 percent in the end, I believe this may hurt our credibility and seriousness," he said.
Upon a question on whether Turkish people became richer with the recent rise in national income per capita as a result of the change in national income calculation method, Tuzmen said, "the richness should be felt by citizens".
"Our target for exports is to reach 200 billion USD within the next 4 years. If this is achieved, national income per capita will exceed 10,000 USD," he also noted.
(DO-ULG)