Babacan reveals a report by high-level panel on global sustainability

Deputy Prime Minister Ali Babacan yesterday said that inequality in economic growth and distribution of income should be fixed in order to ensure sustainable growth. Speaking at a press conference where he revealed a report by the high-level panel on Global Sustainability, Babacan said that more than three billion people in the world were faced with hunger problem and the existing development models were not sustainable, adding that if countries did not take any measures, the world would not be a habitable place after a while. Babacan noted that the report indicated a globally worsening distribution of income, but that Turkey and Brazil were two exceptional countries with regard to this problem. Stressing the importance of establishing cooperation both among the government and business world, as well as with local groups to ensure sustainable growth, Babacan said, "The international finance institutions and large companies should work in cooperation with regard to incentives in order to increase their sustainable technology, innovation and infrastructure investments. The governments should create such an atmosphere." Babacan added that Turkey, which has been capable of distinguishing itself from others amidst a global economic crisis, had a prospective stance as part of its state tradition and general point of view.