Turkey has been little affected by the international crisis in monetary markets, Babacan told a conference entitled Global Turkish Businessmen, held in Istanbul.
However, the Foreign Minister said had the present crisis hit in 2002, it would have been a different matter, as Turkey would not have had the strength to deal with the blow as effectively.
“Once associated with economic crisis, Turkey has become a country associated with economic and financial successes,” Babacan said. “Turkey’s national income rose to $659 billion in 2007 and Turkey became world’s 17th biggest economy. In 2007, Turkish exports rose to $117 billion. In the same period, Turkey received foreign capital worth $22 billion.”
Behind Turkey’s economic success lay a strong economic program, fiscal discipline and reform packages, Babacan said.
“Reforms implemented made the Turkish economy stronger,” he said. “Our goal is to make Turkey the 10th biggest economy. At that time, Turkey will be a much different country
