Turkey closely monitors global economic crisis-minister

The Turkish government is ready to take any necessary steps when needed by the economy, Cicek told reporters following Wednesday's Council of Ministers meeting in Turkey’s capital, Ankara.

There is no need for panic in the Turkish economy, he added.

"For a long time, there has been a program of stability implemented in the Turkish economy and fiscal discipline in order to strengthen the economy against global shocks," Cicek said.

"Naturally, the global developments may have an impact on Turkey. We are closely monitoring the situation. If there is a need for a precautionary measure, we will take it," Cicek was reported by the Anatolian Agency as saying.

Photo: AA