Turkey's state minister for economy said on Wednesday that Turkey's budget deficit was in a more reasonable level when compared with that in European Union (EU) member states.
Ali Babacan said Turkey's debt stock had not diminished so much, however it was equal to average debt stock in emerging G-20 countries. "Our government has reduced debt stock, which was around 73.7 percent when we took office, to 39.5 percent of the national income as of the end of 2007," Babacan said as he made a presentation on global outlook and Turkey's economy on the sidelines of the Third Ambassador's Conference in Ankara.
Note EU-Digest: Mr. Babacan is comparing apples and pears.
For more: Turkey's Economy Minister Says Budget Deficit Lower Than EU Countries
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