World Bank's Zachau sees Turkish economy on recovery track

World Bank's Country Director for Turkey Ulrich Zachau yesterday said the Turkish economy is on the road to recovery. "Even though official figures haven't been released yet, the economic recovery in the fourth quarter of 2009 seems to be on positive side compared to the same term in the previous year," he said, adding that the WB expects growth this year of 3-4%. Zachau stressed that a slight improvement in employment could also be expected. On a possible new standby agreement with the International Monetary Fund, Zachau said its impact depends on the details of the deal, but that it could bring external financing, boosting the country's international reserves and lowering the government's requirements from the domestic market.