Baykal lays out CHP recommendations to counter economic crisis

Speaking at his party's parliamentary group meeting yesterday, main opposition Republican People's Party (CHP) leader Deniz Baykal urged Prime Minister Recep Tayyip Erdogan to stop saying that Turkey was weathering the ongoing global economic crisis with minimal damage but instead to take measures against it. The remarks were in apparent response to Erdogan's call for opposition parties to weigh in on measures to fight the crisis rather than "politicize" it. In particular, Baykal said that the government should cut spending and increase budget savings measures, adding that there should be a six-month value-added tax holiday for automobiles and durable goods. Stating that the government should balance the foreign exchange rate and work to prevent over-valuation of the lira, Baykals said that a credit guarantee fund should be established. Baykal also said that insurance premiums should be reduced and the unemployment fund should be used properly by the government.