Erdogan: "The 2009 budget will turn the economic crisis into an opportunity"

Addressing Parliament during debates over the 2009 budget yesterday, Prime Minister Recep Tayyip Erdogan said that the budget will be an important tool for Turkey to turn the global crisis into an opportunity. Warning that some are trying to exploit the crisis for their own ends, Erdogan said, "Turkey's economy is now well-positioned and safeguarded against global economic fluctuations." He said Turkey's biggest gain since his party came to power six years ago is that it now believes it can do anything, adding that the government restored faith in politics and moved the country's economy forward. Dismissing claims by opposition party leaders, Erdogan said, "This crisis is not Turkey's crisis but a global one." He added, "Of course Turkey is being affected by the crisis, but this effect isn't as serious as some claim." Turks won't fall for crisis opportunists and fear-mongers any more, Erdogan said. Touching on the government's efforts to counter the crisis, the premier said the government has acted very cautiously since seeing initial signs of the crisis and has taken all necessary measures to protect Turkey's people and economy. Those measures include, he said, interest-free loans to small- and medium-sized companies, installment payment of tax debts, financial support for employers to retain and add workers (especially young people and women), more resources for large-scale regional development projects such as the Southeastern Anatolia Project (GAP), higher state guarantee on bank deposits, and other measures to maintain liquidity flow in domestic financial markets through Central Bank intervention. Touching on a possible standby agreement with the International Monetary Fund, Erdogan said Turkey could benefit from the Fund's accreditation power in the world economy, but any agreement must be in line with the nation's interests.