Turkey Will Go Through An Economic Crisis Worse Than That Of 2001, World Bank Official

ISTANBUL - World Bank Turkey Director, Ulrich Zachau, said Thursday growth in Turkey would slow down and unemployment would increase.
Speaking at a summit on Risk Management in Istanbul, Zachau said that Turkey would go through an economic crisis worse than that of the year 2001.
"This period is a good one in which to make reforms. Furthermore, policies for long term growth plans are crucial," Zachau said.
In this period, the most important topics are establishing new areas for employment and protecting sensitive groups, such as women and children, Zachau said.
"Turkey's labor force will continue to grow. Turkey will experience slow economic growth and there will be high unemployment. An economic crisis worse than that of 2001 will be experienced in Turkey," Zachau said.
"How will we overcome the risk? The implementation of macro economic policies and the continuation of such policies are important to minimize risks," Zachau said.
"What Turkey needs to do in the short run is to provide flexible, part-time jobs so that women and the young population find employment," Zachau said.
"Turkey's financial sector continues to preserve its strength when compared to many other countries. The economic risk in 2009 is based on the impact of the global crisis on structural and real economy," Zachau also said.
(SOL-MS)
(ECO)