Turkey not facing prospect of recession - minister
Güncelleme Tarihi:
Reuters
Oluşturulma Tarihi: Aralık 03, 2008 14:54
Turkey is not facing the prospect of recession and expects growth of 3-4 percent this year, while a forecast of 4 percent growth for 2009 remains valid, Industry Minister Zafer Caglayan said on Wednesday.
Haberin Devamı
He was speaking after a Moody's analyst said on Tuesday Turkey would enter a recession next year unless it agreed to a programme with the International Monetary Fund (IMF).
"I do not attach value to what the credit rating agencies say. The crisis showed they are not subject to supervision," Caglayan told reporters when asked about the Moody's comments.
Investors and business leaders want Turkey to agree a new loan accord to support the economy after the expiry in May this year of a $10 billion stand-by accord.
Senior government sources told Reuters on Tuesday Turkey's gross domestic product was seen growing by 2 percent in both 2008 and 2009.
Haberin Devamı