ILLIRIA and LANDOS - I thought you might be interested.
http://www.zaman.com/?bl=economy&alt=&trh=20040602&hn=9163#
Turkish State Minister Kursad Tuzmen said yesterday that Turkey leads the world in terms of export growth based upon the export average of the first five months of 2004.
Tuzmen gave the opening speech at the International Istanbul Textile Machinery Fair being held at the TUYAP Beylikduzu Fair and Congress Center. The Fair is the largest ever assembled in the world and is number one with respect to its volume in the field of textile machinery.
After his speech, Tuzmen responded to questions from journalists. Tuzmen said, "Currently our monthly exports seem to be settling around 5 billion dollars. This is very good. Reaching 5 billion dollars in monthly exports means that we take in 60 billion dollars annually. God willing this level will continue."
Tuzmen emphasized that even if the exchange rates did not change, it would not create a big problem in export coverage. "As you know," explained Tuzmen, "when the exchange rate sharply decreased, the export coverage rate fell to the level of 62 percent. Our main target is 70 percent and above. At the moment, it is around the level of 66-67 percent. Next month, it will be a little bit better. If this continues, there will not be a big problem. The export coverage rate will continue at this desired level."
Tuzmen also expressed that the increase in oil prices will cost the economy close to 5.5 billion dollars.
