Dervis: "Turkey could go much further"

Kemal Dervis, Vice-Chair of the Brookings Institution, yesterday stressed the current dynamism enjoyed by Turkey. "If current dynamism continues, Turkey could go much further in the next decade than it did in the past 10 years. Turkey could become one of the most prosperous countries in the world by 2023, when the Republic of Turkey will celebrate its 100th anniversary," he said. Dervis said that the locked budgetary talks in the US, debt and spending in former rich countries, inability of political mechanism in Europe, Japan and the US to make decisions have caused serious problems for Europe and the US. He stated that global economic problems will sooner or later reflect on Turkey in upcoming months and that Turkey's current account deficit poses vulnerability for Turkey. Dervis added that Turkey needs to bring down its current account deficit.