4/15/2016
IMF and World Bank Spring Meetings Started
Deputy Prime Minister Şimşek, "We endevour to put growth ratio to 5% path again by performing the structural reforms on Medium Term, by increasing the efficiency."
IMF President Lagarde, "IMF has to consider the fact that whether there is sufficient fund to support member countries and reforms to comprise stengthening the ties with regional creditors."
World Bank Group President Kim, "Global economy is at a difficult period. There is no bright point now other than the USA and India. Weaknesses of Europe, Japan and emerging economies continue. Russia and Brazil will again experience negative growth. The money annually spent for refugee crisis exceeds USD 20 billion."
Deputy Prime Minister Şimşek has answered the questions of correspondents in Washington, capital city of the USA, where he visited for IMF-World Bank Spring Meetings. Upon the question asked on IMF to draw growth expectations for Turkey upward, Şimşek performance has said that Turkey’s performance last year has been surprise for all international agencies and the world. Şimşek has noted that while developing countries, China and India excluded, grew by 1.7%, Turkey’s growth has been 4% and went on to say; "We endevour to put growth ratio to 5% path in Turkey again" Underlining through performing structural reforms in medium term and increase the efficiency, they will try to put growth ratio of Turkey into 5% path again, Şimşek has noted that Turkey economy’s resistance has been maintained despite to all negative happenings in the region and permanent stagnation in Europe. Minister Şimşek has underlined that budget deficit was no longer a problem and said, “Last year deficit in general was zero in the State, in other term there was no budget deficit. Our debts are one-third of OECD average. Turkey continues to create employment and job, in 2015, 700 thousand people have been employed. Certainly, there are problems involved but structural reforms are on our agenda for solving the problems. Turkey economy’s performance has been strong despite all shocks, her resistance was good”. International Monetary Fund (IMF) President Christine Lagarde has said in her speech delivered at Washington in the course of IMF-World Bank Spring Meetings that IMF has to be sure of its funds to be sufficient for supporting the member countries and also has to consider the reforms also strengthening the ties with regional creditors. Lagarde said, "Fund financial resources have to maintain the financial stability and protect the fragile countries at current environment on one hand, have to be made available for supporting strong policies as well". Underlining IMF will provide support to countries to have room for political maneuvoring and for taking requried precautions in catching their growth committments, Lagarde has noted that they would continue to analyze the impacts of negative interests. World Bank Group President Kim, Global economy is in a difficult period" World Bank Group President Jim Yong Kim has said in the press conference that global economy was facing with serious problems at a very difficult period and went on to say, "There is no bright point at Global economy now other than the USA and India. The weaknesses of market economies in Europe, Japan and emerging markets continue. Russia and Brazil will experience negative growth again. Our global growth expectation this year has been drawn to 2.5% from 2.9%". "World Bank has signed joint financing agreement with Asian Infrastructure Investment Bank" Explaining the struggle with difficult issues of slowing down global economy, Kim has elaborated this as dislocated refugees, climatic changes and epidemies. Kim has underlined the importance of these three titles for global economy and noted that the services of the World Bank were required now most. Kim has further reported that World Bank has signed a joint financing agreement on April 14, 2016 with Asian Infrastructure Investment Bank. "Refugee crisis is an important problem for entire global economy, primarily for European countries" Answering the questions of the correspondents after his speech, Kim has underlined that refugee crisis was an important problem for entire global economy, primarily for European countries, that they have concerns this would spread to entire world.
“Political uncertainty in Turkey decreased, we have a very comprehensive reform agenda. We realize the structural reforms and now everybody started to believe the story again. It goes without saying that it is good the upward revision of figures by IMF, I mean, while the growth expectations for world revised downward, growth expectations for Turkey revised upward. This shows that political uncertainty in Turkey reduced, medium term outlook of Turkey has been improved through structural reforms.”
IMF President Lagarde, "We will render further assistance to member countries to catch their growth targets"
Upon a question on the financial cost of refugee crisis, Kim said, "The money spent for refugee crisis increased extraordinarily. It is difficult to say and exact figure but it exceeds USD 20 billion annually''.
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