Prime Minister Bulent Ecevit expressed optimism Saturday about Turkey's economic recovery following the recent devaluation of the national currency.
There are good reasons to view the economy in the near term with hope and confidence, he told a news conference, Anatolia news agency reported.
Turkey allowed its currency to float two weeks ago after the country was plunged into a political and financial crisis following a public spat over tackling corruption between President Ahmet Necdet Sezer and Ecevit.
The lira fell by about 30 percent against the dollar after the float.
Ecevit said the devaluation would benefit exports and if Turkey managed to control effectively currency fluctuations, the economy could recover its vitality in a short time.
He noted that exports in January and February had risen by 14.4 percent compared with the same period last year. He said exports should increase even faster with the devaluation.
He pledged government support for both business and exporters.
Last week Ecevit named a former World Bank vice-president Kemal Dervis as Economy and Finance Minister. He is currently in the United States seeking new credits for Ankara from international financial institutions.
Ankara is expected to unveil a new economic program next week after the failure of its stabilization plan put in place in 1999 with the help of the International Monetary Fund – ISTANBUL (AFP)
© 2001 Al Bawaba (www.albawaba.com)
