Turkish minister says Turkey's economy on accelerating recovery track

State Minister for economy Ali Babacan however issued a warning that global risks remained high despite a revival in international commerce and signs of recovery.

"Questions remain whether the global recovery pattern could stand on its feet if governments withdrew their support," Babacan told a press meeting on latest developments in the real economy.

Babacan said it was still uncertain how governments in developed countries -- specifically in Europe -- would deal with "the side effects of their extraordinary measures" to stimulate economy.

Babacan said recovery has yet to be seen everywhere except for mainly in developing countries in Asia and in the United States, which he described as a major obstacle against a global economic upturn.

The Turkish minister said Turkey's economy had taken on a recovery track as well beginning from Q3 in 2009 with relatively promising signs in consumption and production figures.

Babacan said Turkey's industrial output index recorded a 25.2% year-on-year rise in December, 2009, also marking an 8.7 percent rise on a monthly basis.

"These figures affirm what we have been seeing in the real economy as positive developments," Babacan said.

Babacan said business start up figures were also up with a 78 percent year-on-year increase in the number of companies launched last December.

/World Bulletin/