Deputy Prime Minister Ali Babacan met today, 49 bank manager.
State Minister Ali Babacan made the following comments;
"Capital flows continued to decline in 2009 after a reduction by half in 2008. Look forward to in 2010 will increase by 36 percent. Global serious risks still continues. Growth is a growth uneven. Especially in developed countries, we see that the unemployment rate is high and continues to rise. Europe at the public deficits and public indebtedness continues to increase.
STATUS OF ADVANCED COUNTRIES IN MORE difficult
Weak governments in power in many of the developed countries. Coalition and minority governments, parliaments or governments, there is a mismatch between the state governments not being dominated parliament.
Such steps should be taken to a table in the next few years we foresee governments remain slow and inadequate. Memorandum will draw difficulty. Timely steps to correct its own within the EU will have difficulty achieving consensus on the central banks throw more business will fall.
Central Banks to recover the situation and to prevent further deterioration to prevent the collapse of banks or states will be forced to make an unusual and high müdahalalelerde. The abundance of liquidity and some of the problems of capital inflows to developing countries will bring intense.
Growth may be reduced in 2011
Looking at the table, wide-angle to the year 2011 and beyond: an amount of growth will decline in 2011. The importance of Europe to protect the debt problem. In developed countries, the policy will be difficult to increase interest rates before the end of 2011. Difference in growth between developed and developing countries will continue in the medium term. High public indebtedness, deficits and unemployment will continue longer yıllarg elişmiş countries.
EUROPE TAKES TIME recovery
A strong recovery in Europe will take time. The solution is slowly recovering Europe and the problems the region will continue to be the longest. Capital flows to developing countries will continue.
TURKEY WILL CONTINUE TO BE CENTER OF ATTRACTION
Foreign direct investments and portfolio investments in Turkey last 8 years, was open and became the center of attraction. As long as Turkey continued confidence and stability of capital flows will continue to be pozifit. It is important to ensure that the capital, long-term and permanent. Outside of being an open economy, needs to protect or even strengthen. Turkey will never not make their approach into the concealer.
LAYOUT TOWING NEED SELF-GIVING PUBLIC SECTOR ACIKLARI close
Short-term capital flows may lead to negative consequences, how much more protected against all our institutions need to focus on it can make. Fiscal discipline in the center of all these policies. Act together to give the public, to have a reasonable level of public deficit falling. The Central Bank's policies, structural reforms, a policy is important. Free exchange rate will never deviate. This is very important to us.
We think that the precautionary measures to keep in the forefront of the macro measures. Steps taken in this context is discarded.
BALANCED ECONOMIC POLICIES SINCE 2009, they applied a
We've done what. Changed from time to time. Dengeliekonomi policies implemented since 2009. We have implemented the normalization of public finance, and exit strategy. We have carried out in September of 2009, it announced OVP'La. Described in the second of the Central Bank's exit strategy in May 2010.
The current conjuncture, the central banks of developed countries to reduce policy interest rates, rapid growth took place in this movement of global liquidity.
Developed countries, including Turkey, there was a significant increase in capital flows. These trends towards increasing utilization of the financial depth to provide an environment suitable for the monitoring of policies. For both public and private sector borçlanmamak extreme, long-term bodrçlanmak, external shocks dayanıklılığımızı consolidate.
MORE TO COME IN THE INCREASED IMPORTANCE OF MTP
According to the MTP in October of 2010 we have revised the budget deficit will continue to be reduced gradually. Budget deficit to GDP ratio falling in a single country, Turkey, and this will continue.
The current period for the establishment of a healthier financial structure of all the policy instruments used in a coordinated manner. Treasury, the Central Bank and the institutions have the important tools. Interagency coordination is vital.
Than predicted take POSITIVE RESULTS
Protection of financial and macroeconomic stability and aim to güçlendririlmesi. Policies are being shaped accordingly. Public finances are taken positive results in 2010 than envisaged.
The Central Bank is taking the necessary steps and time required BDDK'mız. "
Babacan said:
"We aim to strengthen financial and macroeconomic stability. Turkey crisis alteration in a positive way. Our goal is to keep the level of 5 per cent growth over the medium term. Turkey is among countries during the crisis positively diverge. Growth was completely the contribution of the private sector, growth is not artificial. In 2010, public GYİH'ye debt ratio decreased significantly. Today that figure is calculated as 41.4 per cent up to foresee the fall. In this period, according to 2009 we see the Treasury's domestic debt rollover ratio decreased.
The current account deficit this year will pass for $ 40 billion. There were problems of balance of payments financing. We see a healthy table. Should take a cautious attitude towards the future are obvious.
GOVERNMENT AUTHORITIES AND REQUIREMENTS OF ALL THE HARD ensures that KAÇINMAYACAK
Confidence and stability on behalf of the government and all authorities to take measures to the most rigid kaçınmayacak. Stability is quite open in front of Turkey. Many countries try to save the day to do what we have carried out three years after the mid-2009. Each year, we were in pursuit of creating a sustainable high growth. Although the political calendar in 2011 as a special year as we think of 2012-2013. Otherwise, it is betrayal of future generations.
Today's save our approach did not approach.
MORE RISK OF TURKEY 12 EU countries
In some fashion we see the policy applications. Fiscal stimulus, they said. It also said the United States of Europe. We see the dealer check the status of the countries spending the citizens of unnecessary spending. So-called union of European stability. More than half of 12 member countries from Turkey to the Euro area is more risky.
CONTACT PUBLIC MONEY THEY SAY WE BRAKE Spend BASTIDE
The only way to growth in waste of public money to us than they did suggestion. We pressed on the brakes. Ayrıştık result in a positive way.
Similarly, there is now the fashion trends. kapılmayacağız these trends. Rational and we will take steps to generating results.
Attracted the attention of the world in recent weeks, especially if you look at the policies implemented policies.
POLICIES applied rely on
We rely on these policies. Our institutions took the right steps at the right time. God willing we will see the results. Read more in the future. There are all kinds of instruments in the hands of institutions.
However a large number of relevant institution. The main objective of price stability the central bank. For this, we have the independence of all types of vehicles. Financial stability issues have to act in coordination in many institutions. Have taken positive steps in this direction. I often met. Some were even at night.
Following these statements, Babacan thanked the members of the press open to the press saying that the department is over and proceeded with the meeting closed to the press.
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