TURKISH FINANCE MINISTER SAYS YEAR-END RATIO OF PUBLIC DEBT TO GDP TO BE %42.3

ISTANBUL (A.A) – 22.10.2010 – Turkey's finance minister said on Friday that the year-end ratio of public debt to Gross Domestic Product (GDP) would be 42.3 percent. 
Mehmet Simsek said ratio of public debt to GDP would be 40 percent in 2011 and it would drop to 36.8 percent in 2013.
"Turkey has reduced public debt gradually since the economic crisis of 2001, and the ratio of budget deficit to GDP would drop to 2.8 percent in 2011," Simsek said during a forum of the European Investment Bank oh "Smart Growth for Turkey" in Istanbul. 
Simsek said the ratio of budget deficit to GDP would be 3 percent by the end of 2010, it would be 1.6 percent in 2013.
Minister Simsek said Turkey had provided tax exemption to companies, and more than 16 international companies were establish R&D centers in Turkey.
Turkey was an energy-dependent country at the moment, and was examining alternative energy projects including water and wind, Simsek said.
Simsek said Turkey was also working on nuclear energy.
"I can say that the projects we are working on right now will bring concrete solutions in the long term," he said.
Also, Simsek said Turkey needed EU's support, and that way, Turkey could transform itself.
"If Europe really wants to achieve great global advantages and it expects good things from a good partner, I think it cannot find any other country better than Turkey," he said.
Simsek also said Turkey did not need written directives from Europe, and in his opinion Turkey would be beneficial to Europe.
The European Investment Bank (EIB) is the European Union's financing institution. Its shareholders are the 27 Member States of the Union, which have jointly subscribed its capital. The EIB's Board of Governors is composed of the Finance Ministers of these States. The EIB's role is to provide long-term finance in support of investment projects.
The EIB has been active in Turkey for more than 45 years and is pleased to offer a platform for presentations and speeches as well as an arena for interactive debate featuring high-ranking politicians, policy makers, sector experts and representatives of the financial arena.