Banking lobbies and lawmakers should avoid regulations which would damage the economy for short-term gains, top economy official tells
Turkish Deputy Prime Minister Ali Babacan told a meeting in
Babacan was speaking at the 15th annual meeting of
In his speech, Babacan said neither banking lobbies nor policy makers should promote regulations which, for the sake of short-term profits, would harm the economy in the long term.
Babacan claimed that the worst of the turbulent times following the global economic crisis of 2007-2008 had passed. Countries are going through big challenges, but the challenges also mean opportunities to do necessary reforms, he said.
Adding that the level of growth sustainability in emerging economies was unclear, he said he expected average growth for the next decade to be considerably lower than the previous one.
"However, we see the average growth of emerging economies is still higher than developed countries. A major part of global economic growth and activity comes from these countries," he said.
Babacan noted that the recovery seen in
"We should make sure people move from one country to another country in an easy way, as good capital and energy also move from one country to another country in an easy way," the minister said.
Gathering to elect its new CEO and board members, TSPB was initially established according to the Capital Market Law under the name of "the
The association, revised to "
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