Business world warns on budget gap

Speaking at the Economy Coordination Board meeting in Konya, Arzuhan Doğan Yalçındağ, chairwoman of the Turkish Industrialists and Businessmen’s Association, said the strategy to diversify exports during the global crisis was correct. However, she criticized the government on the widening budget deficit. Survey results taken by the Istanbul Chamber of Industry, or ISO, released on August 13, showed that production, domestic sales, exports and employment fell, but industrialists still have a positive outlook on the future.

Although some Turkish economists consider 2009 to be a “lost year,” Turkey’s possessive financial institutions have come through the crisis in a strong position and there are several signs that Turkey can be an emerging market leader in post-recession recovery, provided it can manage its enlarged debt burden. 

Source: Hurriyet Daily


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