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08:08
Sajid Ali
World Bank President Robert Zoellick, who is visiting Turkey this week, told a news conference on Thursday at the International Finance Corporation (IFC) that he had fruitful talks with Turkish officials, focusing mainly on Turkey's upcoming economic reforms and plans, as well as regional and global developments.
When asked about the possibility of the latest economic crisis in European countries, like Greece, affecting Turkey, Zoellick said 50 percent of Turkey’s exports are to European Union member states, and therefore, economic problems in these countries would have a certain impact on Turkey.
He said the decline in foreign direct investments in Turkey stemmed from the situation in Europe, adding that Turkey is now in a much better position compared to the past as it has expanded its economic relations.
According to the World Bank chief, Turkey has established a wider network of international connections and its economy is more powerful and resistant than it had been in the past.
Zoellick added that the two macroeconomic issues that need attention in Turkey are inflation and the current account deficit. The official also said the current account deficit is an understandable problem as Turkey keeps growing and has increased its imports while doing so.
Pointing to the Turkish government's willingness to solve Turkey's structural problems, Zoellick said the World Bank totally supports the government's efforts to that end.
Zoellick arrived in Turkey on Tuesday to hold a series of talks. Since his arrival, Zoellick has met with Turkish President Abdullah Gül, Prime Minister Recep Tayyip Erdoğan and Deputy Prime Minister Ali Babacan, as well as representatives from the private sector and several NGOs.
When asked about the possibility of the latest economic crisis in European countries, like Greece, affecting Turkey, Zoellick said 50 percent of Turkey’s exports are to European Union member states, and therefore, economic problems in these countries would have a certain impact on Turkey.
He said the decline in foreign direct investments in Turkey stemmed from the situation in Europe, adding that Turkey is now in a much better position compared to the past as it has expanded its economic relations.
According to the World Bank chief, Turkey has established a wider network of international connections and its economy is more powerful and resistant than it had been in the past.
Zoellick added that the two macroeconomic issues that need attention in Turkey are inflation and the current account deficit. The official also said the current account deficit is an understandable problem as Turkey keeps growing and has increased its imports while doing so.
Pointing to the Turkish government's willingness to solve Turkey's structural problems, Zoellick said the World Bank totally supports the government's efforts to that end.
Zoellick arrived in Turkey on Tuesday to hold a series of talks. Since his arrival, Zoellick has met with Turkish President Abdullah Gül, Prime Minister Recep Tayyip Erdoğan and Deputy Prime Minister Ali Babacan, as well as representatives from the private sector and several NGOs.
