Deputy PM: Losses in Turkey’s private sector exceed $60 billion as result of anti-corruption operation

Photo: Deputy PM: Losses in Turkey’s private sector exceed $60 billion as result of anti-corruption operation / Economy news

Baku, Azerbaijan, Feb.5

By Rufiz Hafizoglu - Trend:

Turkey's private companies lost $60.252 billion as a result of the anti-corruption operation carried out in the country in December 2013, Turkish Deputy Prime Minister Ali Babacan said, Turkish Anadolu agency reported on Feb.5.

Despite of the current situation, investment outflows from Turkey during the mentioned period was not observed, according to the deputy prime minister.

The corruption scandal in Turkey has led to a general mistrust of the country's banks, the Turkish Banking Regulation and Supervision Agency said earlier.

Turkey's banking sector is one of the leading sectors of the country's economy. Some 49 banks are operating in the country.

As a result of the anti-corruption operation in Turkey, Turkish Halkbank has lost $1.625 billion in revenue.

Turkish police conducted special operations in Istanbul and Ankara on December 17, 2013, resulting in the arrest of several dozens of people that included businessmen and sons of some ministers. The detainees were accused of corruption, smuggling and selling drugs.

Mayor of Istanbul's Fatih Municipality, Mustafa Demir, Director General of Turkish Halkbank Suleyman Aslan and well known entrepreneur Ali Agaoglu were arrested during the same operation by police. Searches were also conducted at Halkbank's office.

After a meeting with Turkish President Abdullah Gul in late December 2013, Prime Minister Recep Tayyip Erdogan announced a new cabinet of ministers.

Translated by L.Z.

Edited by C.N.

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