When Turkey buys Iranian oil, we pay for it in Turkish lira... However, it is not possible for Iran to take that money as dollars into its own country due to international restrictions, the U.S.A.s sanctions. Therefore, when Iran cannot take this money back as currency, they withdraw Turkish lira and buy gold from our market.

Ali Babacan

Categorized in : Country Iran Turkeys

Population is a strong driver of the economy as well as the quali... by Ali Babacan

Population is a strong driver of the economy as well as the quality of the labor force.

labor-force quality strong

The fast fish, not the big fish, eats the small fish. by Ali Babacan

The fast fish, not the big fish, eats the small fish.

big-fish fishes bigs

Turkey's economy is powerful enough to tackle tough times. by Ali Babacan

Turkey's economy is powerful enough to tackle tough times.

turkeys tough-times powerful

Turkey is widely envied while there are very serious troubles in... by Ali Babacan

Turkey is widely envied while there are very serious troubles in the world economy.

turkeys serious world

The E.U. initially decided to end the isolation of Turkish Cyprus, to balance the accession of Cyprus. But the E.U. has not carried through on its promise.

cyprus balance promise

Turkeys energy bill due to imports will fall with the increase in use of renewable energy sources. We have no control over the prices of petroleum and natural gas.

turkeys bills fall

Islam and democracy can function together. by Ali Babacan

Islam and democracy can function together.

islam democracy together

Turkey is going through an incredible economic, political and social transformation. What is most important is that Turkey has been the owner of this transformation. Ownership has been the key to success.

turkeys political important

Greece is not an easy country to do business in. by Ali Babacan

Greece is not an easy country to do business in.

greece easy country

Whatever the scenario, the dynamism of developing nations, their demographics and competitive power are great sources for superiority.

dynamism demographics source

We have been talking with leaders: Change is coming; you can no longer have a closed regime with an open society - satellites, social media, the Internet - you have this kind, this kind of society moving forward, and you are running this closed regime; this is not sustainable. This cannot continue.

you social-media society change

Turkey has a young and growing population. Until recently, this was perceived as a problem, a burden that Turkey would bring to the E.U. But it is, in fact, an asset that can help the population deficit of the E.U. and the economic growth of Turkey.

help burden growth problem

Turkey does not have an official exchange rate target. by Ali Babacan

Turkey does not have an official exchange rate target.

exchange does turkey target

Turkey will not let Turkish territory or airspace be used in any activity that could harm the security or safety of Syria.

turkey will security safety

Northern Iraq has become, economically, a natural extension of Tu... by Ali Babacan

Northern Iraq has become, economically, a natural extension of Turkey.

turkey become iraq natural

Leave history to historians. by Ali Babacan

Leave history to historians.

historians leave history

A country which has a population 99% as their faith in Islam can also be a country which are subscribing to the universal values of the E.U.

values islam faith country

Those looking from Europe see Turkey as an economic success, whereas others from the Middle East see Turkey as a democratic success.

others looking see success

'The Economist' is a biased organization. by Ali Babacan

'The Economist' is a biased organization.

economist biased organization

Openly speaking, the only formula that will save Greece's future is more trade with Turkey and more investment with Turkey.

more will investment future