Turkey praised for response to economic crisis

Wednesday February 18th , 2009

Turkey's response to the current global economic crisis has been praised by state minister Mekmet Simsek.

Speaking to the Justice and Development Party, Mr Simsek stated that there are a number of positive developments taking place across the nation, despite the global outlook, reports Today's Zaman.

"Turkey is currently resisting the global crisis in a manner never seen before. The exchange rates have increased, but inflation and interest rates are declining," the minister is quoted as saying.

He added that this is the first time Turkey has responded to an economic crisis "like a developed country".

Mr Simsek noted that the government is also working to make the nation's cities more modern and habitable.

Earlier this month, PR executive of Atlas International Giovanna Gentile stated that property in Turkey is being boosted by many regions which are resisting the economic downturn, including Antalya and Fethiye.

She added that the price of property in the nation is very low compared with elsewhere in Europe, which is also a draw for would-be buyers.
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