Economy Minister Paints Mixed Picture (Istanbul)
Turkey's real gross domestic product (GDP) can grow by 6 percent a year in the next 10 years, the state minister for economy said in Istanbul yesterday. Speaking at the Financial Times Turkey Capital Markets Forum at the Istanbul Stock Exchange (IMKB), Mehmet قimsek underlined the Turkish economy has significant…
Egytex News Desk
Egytex
On inflation: Inflation will continue to remain high, the minister admitted. “There is [an international] recession. Plus, both commodity and food prices are rising,” Simsek said. Under such harsh conditions, Turkey is way behind in its inflation targets, the minister noted. “As of March, inflation was 9.2 percent. But I have to remind you that 6.1 percent of this is about energy and food prices,” said ھim؛ek. “In core inflation, we may be regarded as close to the target, but unfortunately, inflation will remain high due to the supply shock abroad.”
Easier to delist: Meanwhile, Turkey plans a new law to make it easier to delist companies from the IMKB, said Turan Erol, head of the Capital Markets Board (SPK). Under the new rules, investors whose stake in a company reaches 95 percent will be able to force minority shareholders to sell them the remaining stock, and then delist the company, Erol said at the conference. The legislation is currently being drafted by the SPK and may be ready within three months, Erol said. The Turkey Capital Markets Forum was organized in association with the Turkish Daily News and business daily Referans.
Source: Turkish Daily News
From the Egytex news archive, first published on 8 May 2008. Figures and names are as reported at the time.
