ISTANBUL (A.A) - 05.07.2002 - State Minister Kemal Dervis for Economy said on Friday, ''we want banking sector to be kept under a very tight control, and not to experience mistakes of the past once again.''
Addressing journalists following the economic coordination meeting at the Banks Association of Turkey, Dervis said that he had held a very productive meeting with new directors and Executive Board members of the association.
''Finance sector recorded a very important progress in June. It completed the control and strengthening process, and became more sound and modern. The sector has has taken significant steps to give a better service to economy, employment, production and export,'' he said.
Underlining importance of a sound finance and banking sector for Turkey, Dervis said, ''a banking sector having relations with all sections of the economy, and solving problems together with enterprises, plays a key role in rapid development of economy and creation of employment. Therefore, efforts expended recently, are of great importance. We want banking sector to be kept under a very tight control, and not to experience mistakes of the past once again.''
DERVIS: WE ARE ON THE EVE OF MORE BEAUTIFUL DAYS. I AM SURE WE WILL OVERCOME THIS LACK OF CONFIDENCE
Dervis said that Turkey was on the eve of more beautiful days, expressing belief that he was sure Turkey would overcome this lack of confidence.
Dervis said the world and Turkey were going through a period of critical period, noting that there were serious fluctuations, not only in Turkey but also in world markets.
Pointing out that there was not a distortion in fundamental economic tendencies when exportation, tourism incomes, and success of implementation and finance in budget were covered, Dervis said, ''there is a psychological distortion. There are some uncertainties and fears about political discussions and instabilities. However there is nothing extraordinary when we consider fundamental economic factors, real economy and particularly the balance of foreign exchange. On the contrary, there is a more solid structure and balances when we compare with the year 2001. This is particularly toward the finance sector. Finance sector itself formed this solid structure. It goes into a more stronger structure with the Banking Regulation and Supervision Agency (BRSA).''
Pointing out that psychology was very important in markets and that it was not possible to undervalue psychology, Dervis said people a rapid growth process could start basing on the strengthening in basic economic structure in case confidence is re-installed.
Dervis said all the cornerstones were settled, adding that, ''confidence and coordination should be provided. We should progress forward altogether. I am reiterating once again the fundamental infrastructure has been settled. We have discussed all those and congratulated the bankers. They passed through a very difficult period, and now that we are on the eve of very beautiful days. I think the banking will give every kind of service and support to real economy and take its place in a contemporary economy.''