Deputy PM Babacan: Turkey will double the OECD standard

Deputy Prime Minister Ali Babacan stated that the strong growth performance in Turkey was continuing, adding that while the average growth expectation for OECD countries is 2.4 percent for the 2012-2017 period, it is 5.2 percent for Turkey. Babacan, who made a presentation titled "Developments in the Global Economy and Turkish Economy" at the Justice and Development Party (AKP) meeting in Kizilcahamam town of Ankara yesterday, stated that fiscal discipline has been achieved, inflation figures have been decreased to one digit numbers, important reforms has been made in areas of public finance, banking, social security and health before the global crisis which happened during the 2003-2007 period and thus Turkey has entered the crisis period with strong public finance, strong banking sector and strong political stability. The global economic crisis is continuing with "changing phases," and the world economy had still not been able to achieve stability, despite the fact that the crisis had been ongoing for over four years, Babacan added.