Babacan: "The only country in Europe with falling debt is Turkey"

Speaking this week to the Economy Coordination Commission, Deputy Prime Minister for the Economy Ali Babacan reviewed economic developments in 2010. He said rising oil and energy prices, increased investments due to high machine and equipment imports, and a speedup in domestic consumption had raised the current deficit. "We will close this year with a good growth rate," he added. "Unlike most countries, Turkey cut its debt stock and public deficit in 2010. … In our mid-term plan, we estimate $127 billion in exports in 2011."