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Monday, January 22, 2018

Deputy Prime Minister Babacan optimistic about Turkish economy in 2015

Deputy Prime Minister of Turkey, Ali Babacan

Turkey's Deputy Prime Minister Ali Babacan predicted that 2015 would be a good year for the country's economy, the Turkish-American Chamber of Commerce and Industry reported Jan. 16.

During an interview with the Anadolu Agency, Babacan said Turkey can expect to see growth in 2015 at one of the fastest rates in the European Union. In 2014, Turkey's economy grew at a 3 percent rate.

If oil prices remain low, Babacan said the country will benefit from reduced costs in energy. “Every $10 drop in the oil price decreases the current account deficit by $4.4 billion; the effect of declining oil prices will be felt in Turkey by June,” Babacan said.

In the interview he also discussed plans and packages that will attempt to improve the nation's investment climate, and said the government wants to create the legal framework so that private enterprises can pursue equity-based financing options.

Organizations in this Story

Turkish American Chamber of Commerce & Industry

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