Turkish CB Head Says Economy Is More Resilient To International Shocks

ANKARA - Head of Turkey`s central bank said Thursday that the country`s economy had grown stronger against international fluctuations.
"The current impact of the international financial crisis remains limited when compared to May-June, 2006 when global liquidity conditions deteriorated. And that suggests that our country`s economy has become more resilient and flexible against international shocks," Durmus Yilmaz, governor of the Turkish Central Bank, told a general assembly meeting of the bank.
Yilmaz however warned that despite reduced fragilities, "one should not jump to the conclusion that there are no risks."
Yilmaz said that the international financial crisis had started to make its impact on real economy, citing an increased expectation of a recession in the U.S.A.
The CB governor also urged strict financial discipline and structural reforms in case risk perceptions become worse.
(YMB-ULG)