Falling Energy Prices Could Benefit Turkey's Economy

The fall in oil prices is for Turkey's benefit as it would increase employment and bring economic growth to Turkey, Turkey's Minister of Economy said.



Economy Minister, Nihat Zeybekci, said oil price reduction would double the growth of the Turkish economy.



"With the fall in oil prices, Turkey may grow economically and increase employment in the country. In Turkey we are seeing an economic recovery as our current account deficit decreased by 35 percent," he said.



He added that the decrease on the current account deficit is not because of energy sources. "Energy income will be reflected in Turkey's economy in the last quarter of 2014 and in 2015," he noted.



Brent crude oil prices bounced off its lowest point of around $82 per barrel in four years, and steered between $86-$87 throughout last week, before falling to $84.58 on Monday, and increasing to its highest point, $87.90 per barrel, on Wednesday. 



www.aa.com.tr/en - Ankara