Turkey is expecting to receive $16 billion in grants from financial institutions in an attempt to boost its suffering economy. Under the framework of the recently undertaken three-year economic reform program, funding from the International Monetary Fund (IMF) and the World Bank has already been confirmed, Turkey’s Deputy Prime Minister Mesut Yilmaz told the official Anatolia news agency.
The Turkish parliament approved a tight national budget for the year 2002 in early December, in line with the country’s reform pledges to the IMF. Nearly half of the budget’s $67-billion expenditures will be directed to interest payments. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
