World Bank official warns Turkey over lean time to come

The World Bank would be providing funding to Turkey to the tune of $6.2 billion over the next four years, Zachau said.

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Güncelleme: 14:56 TSİ 05 Mayıs 2008 Pazartesi

ISTANBUL - The Turkish economy could face difficulties in the coming two years and would need to maintain tight financial policies in order to overcome any potential problems, a senior World Bank official said Monday.

Haberin devamı

Speaking at a seminar organized by the Turkish Industrialists’ and Businessmen’s Association (TUSIAD) in Istanbul, Ulrich Zachau, the World Bank’s Country Director for Turkey, said that the effects of the global economic crisis were beginning to be seen in Turkey.

However, the Turkish economy was stronger than in the past and was in a position to better deal with such fluctuations, Zachau said.

Turkey had made significant progress since 2002, he said, having grown in the past six years.