ANKARA - Turkey`s Finance Minister said on Saturday the public sector primary surplus target that was earlier set as 4.2 percent for 2008 was revised as 3.5 percent.
Speaking at a press briefing in Ankara about the medium-term financial frame for the period between 2008 and 2012, Finance Minister Kemal Unakitan said a revision took place in the national income calculation and medium term global economic and financial outlook has been changed.
The public sector primary surplus target was set as 3 percent for 2009, 2.7 percent for 2010, 2.5 percent for 2011 and 2.4 percent for 2012, Unakitan said.
The basic goal of the medium-term financial program was to decrease the ratio of public debt stock to GNP to 30 percent and to prepare a primary surplus policy in compliance with this goal. "The target for ratio of central management budget deficit to GDP has dropped to 1.4 percent," he said.
Replying to a question, Unakitan said, "Turkish economy is a dynamic one. Average of growth figures of Turkish economy are higher than the figures of European countries. A stagflation or stagnation will not take place in the economy. When the world economy starts to improve, we can catch our earlier growth figures."
(EÖ)