WB advisor says US crisis will have no major effects on Turkey's economy

A Turkish advisor with the World Bank has estimated that a crisis in the U.S. economy would have no major effects on Turkey given the current low-profile economic relations between the two countries.

"I think that one needs to examine the level of economic and political engagement a country is in with the United States to understand the dimensions of possible fallout from a U.S. economic crisis, which I believe would make no major effects on Turkey due to not-so-close economic relations between the two countries," Müfit Arberk, advisor the Office of the Executive Director for Austria, Belarus, Belgium, Czech Republic, Hungary, Kazakhstan, Luxembourg, Slovakia, Slovenia, and Turkey.

Arberk said the Turkish Central bank had some solid measures in place, adding that investors and individuals in Turkey would remain relatively untouched from fluctuations in global markets.

The Turkish advisor said the European debt crisis would also make a limited impact on Turkey as long as the country took necessary measures in a timely manner.


/World Bulletin/