Turkey’s State Minster Kemal Dervis announced that the country’s economic development program must be implemented immediately in order to achieve the desired results.
Dervis added that the upcoming six weeks will signal whether the national economy will begin to grow by September, according to Anatolia daily.
He stated that Turkish financial institutions currently face a rising liquidity crisis. The minister suggested that in order to alleviate the problem, the government should aid entrepreneurs in need.
By pooling banking sector funds, Dervis said that companies facing hardships would be able to receive partial relief and potentially succeed. Consequently, these businesses could then repay the banks, thereby improving the banks’s financial situation as well.
In addition, he tried to ease worries that the new economic program would have detrimental affects on their incomes, calling on citizens to keep the nation’s macroeconomic interests in mind.
Furthermore, Dervis added that lately Turkey has been demonstrating positive indications of economic recovery, as inflation has been slightly reduced and there has been a rise in exports and local savings. –(MENA Report)
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