Zachau praises economic indicators in Turkey

Commenting on the impact of the global economic crisis on Turkey, World Bank Turkey Director Ulrich Zachau yesterday praised Turkey's economy and its reforms, saying that its economic indicators are very good. "Turkey's financial system and banks are in good condition thanks to the successful reforms of recent years," he said. "With these sure-footed economic reforms and policies, Turkey reduced its public debt below 40 percent. This is the success of those fiscal and economic policies. Also, health care system reform will make remarkable contributions to the economy in the long term." Urging Turkey to protect itself from the crisis using strong, well-designed policies and measures against risks, Zazhau said, "If Turkey continues its economic reforms, it can be more resistant and there will be no problem meeting external financing needs." He also predicted that next year Turkey will get some $13-$15 billion in foreign investment.