ISTANBUL (AA) - ``Actually there is no big risk in Turkish economy. However, public debts are still high,`` said International Monetary Fund (IMF) First Deputy Managing Director Anne Krueger on Wednesday.
Krueger took the floor at a seminar on ``Developments in Turkish and World Economy`` which was hosted by Turkish Industrialists` and Businessmen`s Association (TUSIAD) in Istanbul.
Speaking to reporters after the seminar, Krueger said, ``there was an imbalance between financial sector and high inflation rates and it was the biggest risk in Turkish macro-economy a few years ago. However, after economic program was initiated, macro economic stability was settled and expectations changed. At the moment, there is no big risk in Turkish economy. Each day, stability is settled more. However, public debts are still high. No matter how stable a country`s economy is, it is certainly affected by negative developments in the world economy.``
Upon a question about Turkey`s EU membership bid, Krueger said, ``many of the criteria which have to be met on the path to the EU membership will be implemented. Turkey already needs these criteria. Turkey should meet them for itself. I suppose Turkey would face several problems.``
When asked of expectation about a growth rate of 5 percent in Turkey this year, Krueger said, ``5 percent of growth in Turkish economy in 2005 is a reasonable expectation. I even think that it would be over 5 percent.``
(GC-MS)
2005-05-04