Turkish Economy

* “Honeymoon Is Over for Turkish Prime Minister” (World Report, Feb. 15), while tending to emphasize only the negative developments in Turkey, falls short of pointing out some recent remarkable achievements that Turkey has realized in domestic and external affairs.

The article fails to note that the Turkish economy has grown at the rate of 8% in 1993, the highest growth rate among OCED countries. Turkey enjoys the highest foreign currency reserves in its history, which reached $18.5 billion last month. Also, foreign tourism revenues hit a record level of more than $4 billion in 1993. With $150 billion of GNP, according to the World Bank, the Turkish economy today ranks as the 17th largest in the world; Turkey is considered one of the most successful emerging markets.

Turkey realized these economic achievements despite its enormous losses, that amounted to $20 billion, as a result of the Persian Gulf crisis. As will be recalled, Turkey took a resolute and a decisive stand during this crisis by joining efforts with the international coalition and by fully implementing the U.N. resolutions regarding the economic embargo. The ill effects of the Gulf crisis still continue to be a great burden on the Turkish economy in many respects.

Among Turkey’s major external achievements in 1993, it is worth mentioning that the PKK is outlawed by almost all Western countries and Turkey’s NATO allies, in a show of support for Turkey’s combat against this international terrorist organization.

OGUZ CELIKKOL

Consul General of Turkey

Los Angeles