Azerbaijan, Baku, March 14 /Trend/
Turkish state minister for the economy has said that the national income exceeded $10,000, Anadolu News Agency reported.
Ali Babacan told a meeting of the ruling Justice and Development (AK) Party in the northwestern province of Kirklareli, "the national income per capita was about $3,500 in 2002 when the Ak Party came into political power. It exceeded $10,000 in the last eight years. Turkey was one of a few countries which managed to recover from the global financial crisis with least impacts. Economic reforms that our government made in 2004 and 2006 played a significant role in that."
"The world has faced the biggest economic shrinkage in 2009 since the World War II. World economy has narrowed considerably. The financial crisis had a deep impact on economies of the USA and the European Union. Their debt increased to a significant level," he said.
"When we came to the political power, our debt was 74 percent of our national income. As of end-2010, this rate dropped to 41 percent. Also, Turkey's growth rate reached 8 percent, which is one of the highest growth rates in the world. We expect a 4.5-5 percent growth rate in 2011. It will be the highest growth rate in Europe," Babacan added.