Simsek: "Turkey could turn the global economic turmoil into an opportunity"

In a televised interview yesterday, State Minister for the Economy Mehmet Şimşek said that the current US-oriented economic crisis had effects on all countries in the world and that no country can remain immune to a global crisis. He added that but Turkey would be limitedly affected by the crisis thanks to its sound financial markets. "Turkish banks' rate of capital adequacy is strong. They don't invest in high-risky financial instruments. That's why Turkey could be affected by the crisis indirectly," Simsek said. He added that Turkey could make the current crisis into an opportunity in the long term, adding that foreign investors also share this opinion.