Oecd Report Says Turkey Should Reduce Inflation And Interest Rates

ANKARA - Organization for Economic Cooperation and Development (OECD) said on Thursday that Turkey should reduce the inflation and interest rates to decrease its debt risks.
OECD said in the 6-month report related to the world economy that if the new government continued to fulfil economic reforms and the confidence in the markets was protected, real interest and inflation rates could reduce to 10 percent in 2004.
The report said that increasing of the international tension in the region where Turkey was located was a risk factor affecting directly the Turkish economy and markets and added that a possible U.S. operation against Iraq could affect negatively the economic growth of Turkey.
OECD stated that Turkish economy was expected to show between 3.5 and 4.5 percent of growth in 2003 and 2004 and added that the inflation rate was expected to be 26 percent in 2003 and 10 percent in 2004 in the country.