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EU PROGRESS REPORT WILL BOOST TURKEY'S ECONOMIC RATING WORLD BANK TURKEY DIRECTOR
Info-Prod Research (Middle East), November, 2005
According to Milliyet, concerning the European Union's statement in last week's progress report that Turkey has an operating market economy; World Bank Turkey Director Andrew Vorkink said that Turkey had moved to a higher class not only in politics, but also in the economy. Vorkink said that the effects of this unprecedented evaluation by the EU would be felt particularly in the international economy, Turkey's foreign borrowing costs will fall, foreign investment will rise and interest rates will drop thanks to increasing liquidity and confidence, he predicted.
Vorkink added that the EU said Turkey's economy was on the same level with the Union in terms of the structure of competition and that Turkey's rating would rise with the confirmation that it has an operating market economy.
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