ANKARA - State Minister & Deputy Premier Nazim Ekren said Turkey "seemed richer macroeconomically due to a shift in the volume of the national income" after a recent update in the country`s national accounts system.
Ekren however said the update did not constitute "a change or raise in the distribution of the national income," qualifying accounting system "as pretty conservative."
"But when national income figures are released based on the updated system, we will be able to see very clearly the changes in both per capita income and distribution among the groups," Ekren told a joint press conference with Finance Minister Kemal Unakitan and State Minister Mehmet Simsek.
Turkey`s statistics authority said earlier in March it had chosen "1997" as the base year to calculate changes in national income. Turkey had updated national income and growth figures four times in the past.
"For instance, according to the updated system national income (GNP) for 2006 rose to 526 billion USD from some 400 billion USD," Ekren said.
Ekren said the update aimed at producing data in line with international standards to facilitate a more precise comparison of Turkey`s economic figures against the international ones. Minister also said that the update was part of country`s efforts to adjust itself to the European Union`s standards.
(YMB-ULG)