Baykal: Cost of Last Crisis, 2.5 Billion Dollars

Addressing the Foundation of the Istanbul Economy Reporters and Graduates of the Istanbul University, Baykal said that the economic program which was carried out by the government was capable of overcoming inflation, however it incapable of preventing new problems.

Upon the question on the Higher Education Board (YOK) law, he said that this law should not have been ever brought down to Parliament.

On relations with IMF, Baykal said that flexibility was required for a new agreement with IMF. He pointed out that the foreign trade and current deficit has become the crucial issues of Turkey.

Baykal recalled that Argentina and Brazil did not accept to increase their primary surplus above 3% and still could implement a financial stability program and sought ways of using national resources.