Turkey's deficit at 30 year low as premier assures economic stability
Turkey's budget deficit last year was its lowest for 30 years, and significantly below the government's target of YTL 13.9 billion (~£5 billion).
Prime minister Recep Tayyip Erdogan revealed the figure was just YTL 3.9 billion (~£1.4 billion), just 0.7% of gross domestic product, at a press conference where he extolled the stability the government had afforded the country. "Such a low level of budget deficits was last seen in 1976," he said.
"For the first time in the republic's history, a government has been able to complete its fifth consecutive budget. This is the biggest indicator of the stability this country has gained," he added.
Mr Erdogan noted that when the ruling AK Party came to power, there were only 6,101km of roads, which has increased to 13,000 in the last 4 years.
Having achieved the aim of increasing per capita income to $5,000 (~£2,500), Mr Erdogan asserted that the government planned to double that figure by 2013.
Making promises that will be welcomed by citizens and foreign investors alike, Mr Erdogan assured the press conference that the government would continue to operate with financial discipline to preserve economic stability.
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