Simsek: Turkey to be able to have soft landing even if stiff breezes blow from Europe

While worldwide efforts to deal with the stress of expected economic crisis are underway, Turkey is confident with its strong economy. Finance Minister Mehmet Simsek stated that global economic crisis might affect Turkey, but that it had a strong economy to face with it.

“The stiff breezes blowing from Europe might affect Turkey in the coming year,” said Mehmet Simsek, speaking at the General Assembly of the Foreign Economic Board of Turkey (DEIK) in Istanbul. Addressing the investors, Simsek said, “Do not stop your investments just because the crisis will deepen next year.”By controlling its current account deficit and credit growth “Turkey could achieve the soft landing,” he said.

Simsek added that Turkish businessmen should start trading with long-ignored Asian markets due to an increase in the risks involved in European markets.

Thursday, December 29, 2011