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    Sener: Growth is up at 30%

    Hürriyet Haber
    23 Ekim 2005 - 11:17Son Güncelleme : 23 Ekim 2005 - 11:17

    The Turkish 2006 budget and investment program was assessed by Turkish State Minister & Deputy PM Abdullatif Sener on Saturday. "The 2006 budget includes targets for 2007 and 2008," Sener said, adding that "The 'Turkish economy grew in the last four years. The total growth is nearly 30 percent. We envisage 5 percent growth in 2006."

    "National income also increased. Gross national product (GNP) which was 182 billion USD in 2002 increased to 380 billion USD in 2006. Also the inflation rate which was 29.7 percent in 2002 is envisaged as 5 percent in 2006,'' Sener said.

    ''Budget deficit is envisioned as 29 billion YTL in 2005 but year-end target decreased to 14.9 billion YTL and its ratio to GNP dropped to 3 percent, thus we have caught Maastricht criteria. We aim budget deficit as 13.2 billion YTL in 2006 and its ratio to GNP will be 2.45 percent,'' he noted.

    Sener said, ''the ratio of interest expenses to GNP was 23.3 percent in 2001 and 18.9 percent in 2002. It is 8.6 percent in 2006 which is a very low level. Meanwhile, we saved 62 billion USD from interest expenses since 2002.''

    On the subject of social security draft law, Sener said, ''Economic and Social Council will convene on November 1st regarding social security reform.''

    Concerning investments, Sener said, ''40.2 percent of total fixed capital investments was made by public sector in 1980-1990 period. This ratio decreased to 25.7 percent in 1991-2000 period. We envisage this ratio as 23.9 percent in 2006. Thus, we expect the share of total fixed capital investments in GNP as 21 percent.''

    ''Investments in 2006 increased 13.5 percent when compared with 2005, and general and private budget investments rose 20.1 percent,'' he added.

    Sener said, ''GNP per capita will be 5216 USD, and GNP will be 380 billion USD in 2006.''
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