Simsek: İn the face of global economic crisis, our economy is in good condition

State Minister for the Economy Mehmet Simsek held talks over the weekend in the southeastern Anatolia province of Mardin as part of the ruling Justice and Development Party's (AK Party) campaign for local elections set for late this month. During his talks, Simsek told local businesspeople about government measures to cushion the impact of the global economic crisis. Stating that the crisis is affecting all countries worldwide, including Turkey, as a country well integrated with the global economy, Simsek said that Turkey's young population and great entrepreneurial spirit would help blunt the crisis' impact. "The world economy was hit hard by bad loans in the housing markets, which had been given to people who obviously wouldn't be able to afford to repay them," he said. "The US economy lost $14 trillion in the housing and finance markets due to the crisis. There is a serious decrease in world credit markets, exports, and industrial output. Compared to other countries in the world, we can say that Turkey's economy is in good condition in the face of the crisis." Simsek also attended an event marking March 8, International Women's Day. Touting government efforts to give equal social, economic and political opportunities to women, Simsek stressed the importance of boosting the social participation of educated women for the country's development.