Simsek downplays risk from global economic crisis

Addressing the Balıkesir Chamber of Industry yesterday, State Minister for the Economy Mehmet Simsek said the current global economic crisis poses no great risk to Turkey. "No country is immune to the crisis, but there is no great risk for Turkey from the global financial turmoil," he said. Simsek said that Turkey's banking system and public sector were well-positioned to weather the crisis. Stating that the crisis could slow economic growth, he also said that the private sector's condition would become normal in line with easing financial markets. In related news, the government has prepared a financial support package for exporters and the real sector. Presenting the Foreign Trade Undersecretariat budget to Parliament's Budget Commission, State Minister for Foreign Trade Kursad Tuzmen said yesterday that the government is taking all necessary measures to minimize the impact of the global economic crisis on the real sector, such as raising financial support for exporters and providing low-cost financial opportunities to companies to boost their competitive edge.