ANKARA: Minister Ahmet Davutoğlu, speaking late during his return flight to Turkey from his successful U.S. visit where he met with top global investors, said many were positively surprised by the pro-business policies implemented by the government and pledged to increase capital flow to Turkey.
Speaking to journalists accompanying him, he said the government had announced a very detailed economic program and that foreign investors had to be told about its details.
“We wanted to talk about our program. My trips to London, Davos and New York in the past three months were planned in advance for this purpose.” The meetings with Goldman Sachs, City Group, Merrill Lynch and about a dozen other giant investment companies with significant investments in Turkey had produced very encouraging results, he said, adding that he had especially underlined the importance of investments in research and development.
Davutoğlu said the Turkish delegation had met with representatives from real and finance sectors and no one had asked them about the recent depreciation of the Turkish lira against the dollar. “Everyone around the world knows the appreciation of the dollar is a global phenomenon. We are closely watching the developments concerning the exchange rate. We will also discuss the matter and possible precautions that can be taken with the Central Bank chairman,” he said.
Davutoğlu said Turkey was influenced by a development affecting the entire world but no one could deny that Turkish economy was sound and strong. “We are one of the best in terms of budget deficit, which currently stands at 0.7 percent of the GDP. In the coming years, we will post budget surpluses. The banking sector is strong. Foreign trade deficit is in a downward trajectory. It has dropped from $64 billion to $48 billion. All figures prove that the Turkish economy is in a strong state.”
He said he had spoken to many important economists during his U.S. visit and they had told him that all the parameters showed it was impossible for Turkey to face a crisis. Many experts had praised Turkey’s political stability,he said, adding, “If that had not been the case, Turkey wouldn’t have gone through huge changes, such as changes in the presidency and
