ISTANBUL (AA) - September 24, 2012 - Turkish Deputy Prime Minister Ali Babacan on Monday said that "taxation on the Turkish financial sector would continue with reasonable figures as Turkey's public financial structure was strong".
Answering questions of the participants at the Third Istanbul Finance Summit after delivering a speech, Ali Babacan stressed that "compared to other financial centers in Europe or the United States, low tax figures in Turkey would continue in the upcoming term".
Underlining that the upcoming years would not be ones in which developed economies would overcome problems, Babacan said that "even in the best scenario, the economic crisis would leave a legacy of very heavy debt burden in the United States and Europe".
"Such a heavy debt burden implies that many countries would not be able to reach their old growth figures in the next few decades," Babacan stated.
Turkish economy to be fastest-growing in Europe in 2012 and 2013
Turkish Deputy Prime Minister Ali Babacan said on Monday that Turkish economy would be the fastest-growing one in Europe in 2012 and 2013.
Delivering a speech at the 3rd Istanbul Finance Summit, Babacan said that Turkish economy would be the one producing the highest employment in the mentioned years.
"Maybe Turkey's growth rate will be low, about 3 percent this year but it will be a sustainable one," he said.
Babacan said that Turkey protected itself from all economic storms, stating that Turkish banks did not have any problem and managed to stand on their own feet during economic crisis.
The reforms that were fulfilled by Turkey before economic crisis strengthen the country, he said.
"Turkey's growth rates were really high in 2010 and 2011. 4 million people have been employed in Turkey since 2009. Employment keeps rising in the country," the deputy prime minister said.
