Anadolu Agency: News in English, 98-07-07

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From: The Anadolu Agency Home Page at <http://www.anadoluajansi.gov.tr/>

07 JULY 1998

CONTENTS

[01] CONTACTS OF PRIME MINISTER YILMAZ IN MACEDONIA - YILMAZ: ''IMPROVEMENT OF ECONOMIC AND POLITICAL RELATIONS IS OUR JOINT PURPOSE WITH MACEDONIA''

[02] CORDOVEZ, THE UN SECRETARY GENERAL'S SPECIAL CONSULTANT TO CYPRUS INFORMS THE UN SECURITY COUNCIL ABOUT HIS CONTACTS

[03] COUNCIL OF EUROPE TAKES UP THE ISSUE OF WESTERN THRACE

[04] NEMRUT MOUNTAIN CHARMS TOURISTS - CALISICI, GOVERNOR OF ADIYAMAN: - ''WE EXPECT MORE THAN 100 THOUSAND TOURISTS TO ADIYAMAN THIS YEAR''

[05] ILLEGAL ORGANIZATION OPERATION - SECURITY FORCES CAPTURE 8 MEMBERS OF THE ILLEGAL MLKP ORGANIZATION WHO HELD A DEMONSTRATION IN BAHCELIEVLER

[06] PRIVATIZATION OF PETROL OFISI INC. (POAS) - COMPETITION BOARD EXPERTS START TO CARRY OUT MARKET INQUIRIES ABOUT POAS

[07] SEPARATIST TERRORISTS BURN DOWN A PASSENGER BUS AND KILL DEPUTY DIRECTOR OF UNYE PRISON IN AKKUS COUNTY

[08] TURKEY PRESS REVIEW (1)

[09] TURKEY PRESS REVIEW (2)

[10] TURKEY PRESS REVIEW (3)

[11] TRAFFIC ACCIDENT IN PRIME MINISTER YILMAZ'S CONVOY - STATE MINISTER YUCELEN, ALTINER, DEPUTY FROM KARABUK, JOURNALIST FIKRET BILA, SECURITY OFFICIALS AND DRIVER INJURED

[12] TWO SLIGHT TREMORS IN ADANA PROVINCE AND ITS SURROUNDINGS

[13] STANDARD AND POORS OFFICIALS ARRIVE IN ANKARA

[14] EFFORTS TO DETERMINE THE OVERALL DAMAGE CAUSED BY THE MAJOR QUAKE IN CEYHAN COMPLETED - 319 BUILDINGS COLLAPSED, 1,956 BUILDINGS WERE SERIOUSLY DAMAGED

[15] 988,110 FOREIGN TOURISTS VISIT TURKEY IN MAY 1998

[16] TRAFFIC ACCIDENT IN PRIME MINISTER YILMAZ'S CONVOY - PREMIERSHIP STATEMENT: YUCELEN, ALTINER AND BILA IMMEDIATELY TAKEN TO HOSPITAL

[17] MEETING OF COUNCIL FOR MONETARY CREDIT AND COORDINATION - STATE MINISTER ISIN CELEBI: - ''WE FORESEE THE INFLATION TARGET FOR JULY, AUGUST AND SEPTEMBER TO BE NINE PERCENT''

[18] FOREIGN CAPITAL PERMITS - 243 MILLION US DOLLARS IN FOREIGN CAPITAL PERMITS GIVEN IN JUNE

[01] CONTACTS OF PRIME MINISTER YILMAZ IN MACEDONIA - YILMAZ: ''IMPROVEMENT OF ECONOMIC AND POLITICAL RELATIONS IS OUR JOINT PURPOSE WITH MACEDONIA''

Noting that Macedonia, one of the several countries which won its independence after the cold war, Yilmaz added that Macedonia has taken her place at the world's political stage.

Mentioning globalism, Yilmaz told the members of the Council, ''globalism affects all countries positively. The world becomes a united economy with globalism. Ideological and military blocks left their place to the economic cooperations. Communities should cooperate more in coming century''.

Emphasizing that they are ready to support entrepreneurs, Yilmaz noted that the commercial relations between Turkey and Macedonia reduced in the last years. He added that the Turkish investments in Macedonia aren't sufficient, pointing out that they want Turkish firms to take part in the motorway and infrastructure projects in Macedonia.

Yilmaz stressed that they encourage the Turkish Small and Medium Scaled Enterprises to make investments in Macedonia, and requested Turkish businessmen to make investments in the sectors of banking, automotive, iron- steel, cement, infrastructure, food and privatization.

Addressing the meeting Branko Crvenkovsky, the Macedonian Prime Minister, noted that Macedonia is no longer a country that requires aid, but she requires economic cooperation. He stressed that the commercial relations between Turkey and Macedonia aren't at a sufficient level, adding that they don't aim to improve only economic relations with Turkey, but to improve political relations as well. Crvenkovsky invited Turkish businessmenn to make investments in the country, reminding that German, Greek and Slovakian businessmen have beneficial investments in Macedonia.

Mesut Yilmaz was also received by President Kiro Gligorov of Macedonia. He met with Kito Petkovsky, the Speaker of the Macedonian Parliament. No statement was made concerning both meetings.

Meanwhile Yilmaz visited the historical shopping center that belonged to the Ottoman Empire period, and the other historical places in the city such as the Mustafa Pasha Mosque.

Yilmaz also attended the dinner given in his honour by his counterpart Crvenkovsky.

Crvenkovsky thanked Turkey, one of first countries that recognized Macedonia, for her contribution towards the protection of the independence and sovereignty of Macedonia. He added that the Prime Minister Yilmaz's visit to Macedonia will accelerate the relations between the two countries.

[02] CORDOVEZ, THE UN SECRETARY GENERAL'S SPECIAL CONSULTANT TO CYPRUS INFORMS THE UN SECURITY COUNCIL ABOUT HIS CONTACTS

Cordovez tried to create a positive atmosphere concerning his recent contacts on the island by using his ''diplomatic skill'' and he also gave the impression that there is generally a favourable environment on the island and tried to put Turkey's attitude in ''this atmosphere.'' One diplomatic source said that Cordovez tried to create an impression that Turkey has entered into a tendency to moderate her attitude after the adoption of the last two draft resolutions by the Security Council concerning the Cyprus question.

The same source stated that the impression, which is trying to be created by Cordovez, doesn't reflect the realities on Cyprus.

Sergey Lavrov, the Russian Representative to the UN Security Council said, ''the Council members have extended full support to the goodwill mission of the UN Secretary General,'' adding that the Council wants the resumption of face to face negotiations between Rauf Denktas, the President of the Turkish Republic of Northern Cyprus (TRNC) and Glafcos Clerides, the leader of the Greek Cypriot side, as soon as possible.

Lavrov added that Cordovez, who will probably visit the island in September, thinks that positive developments will take place by September.

[03] COUNCIL OF EUROPE TAKES UP THE ISSUE OF WESTERN THRACE

The COEPA Legal Commission will determine a rapporteur for Western Thrace during the meetings which will be held in Istanbul in September.

The COEPA will ask the Political and Cultural Commissions to give their views about the issue.

The report on Western Thrace will be discussed during the winter or spring sessions of the COEPA General Congress.

The report is expected to discuss the situation of the Turks who were deprived of Greek citizenship, prevention of education and religious activities of the Turkish minority and violations of their rights in Western Thrace.

[04] NEMRUT MOUNTAIN CHARMS TOURISTS - CALISICI, GOVERNOR OF ADIYAMAN: - ''WE EXPECT MORE THAN 100 THOUSAND TOURISTS TO ADIYAMAN THIS YEAR''

Responding to the questions of the A.A correspondent, Calisici noted that Adiyaman has a large tourism potential among the other Southeastern Anatolia cities.

Calisici stressed that terrorism is no longer a threat in the region, pointing out, ''nearly 250 thousand tourists visited Adiyaman before 1984. No tourists came to the region because of the terrorist rumours after 1984. But they have started to host tourists again for three years. The number of the tourists reached 50 thousand last year. We expect 100 thousand tourists this year. The new Adiyaman Airport will contribute to tourism in Adiyaman''.

The Nemrut Ruins, one of the seven ruins in Anatolia, is on the list of World Cultural Heritage of the UNESCO (United Nations Educational, Scientific and Cultural Organization). It is 2,150 metres above sea-level. The mausoleum of Antiochus I of Commagene and the giant divine statues on the eastern and western terraces of the tumulus are located at the ruins.

[05] ILLEGAL ORGANIZATION OPERATION - SECURITY FORCES CAPTURE 8 MEMBERS OF THE ILLEGAL MLKP ORGANIZATION WHO HELD A DEMONSTRATION IN BAHCELIEVLER

Officials told the A.A correspondent that the members of the illegal MLKP were taken into custody and their questioning is underway.

[06] PRIVATIZATION OF PETROL OFISI INC. (POAS) - COMPETITION BOARD EXPERTS START TO CARRY OUT MARKET INQUIRIES ABOUT POAS

The experts of the Competition Board will hold inquiries about the POAS, complete the report about the subject in one week or ten days and submit the report to the Chairmanship of the Competition Board.

The Competition Board will determine its view by taking into consideration the report and the concerned articles of the Privatization Law and Competition Law and convey its view to the Privatization Supreme Board.

If the view of the Competition Board won't be contrary to the existing sale method of the POAS, then there won't be any problems concerning the sale transactions.

Even if the view of the Competition Board is negative concerning the sales method of the Petrol Ofisi, then the Privatization Supreme Board and the Privatization Administration won't be bound by it. However in this case, the firm which will take over the POAS or the Privatization Administration Board have to apply to the Competition Board for permission.

Everybody is waiting for the decision of the Competition Board now concerning the tender of the POAS. The Akmaya-Orteks Joint Initiative Group had given the highest bid at 1 billion 160 million US dollars in the bargaining negotiations for the privatization of a 51 percent public share in the Petrol Ofisi Inc. by the block sale method.

[07] SEPARATIST TERRORISTS BURN DOWN A PASSENGER BUS AND KILL DEPUTY DIRECTOR OF UNYE PRISON IN AKKUS COUNTY

Officials told the A.A correspondent that 9 separatist terrorists laid an ambush near Ozdemir Village in Akkus County at night. The terrorists stopped vehicles and asked for the identity cards of the passengers.

Mustafa Eryilmaz, the Deputy Director of the Unye Prison who was traveling in his car, was taken hostage by the terrorists.

The separatist terrorists then stopped a passenger bus and forced the passengers to get out of the vehicle.

Eyewitnesses said that the terrorists killed Eryilmaz after they burnt down the bus.

The investigation is underway in order to capture the terrorists who fled after the incident.

[08] TURKEY PRESS REVIEW (1)

(Derived from the Newsspot of the Turkish General Directorate of Press and Information.)

PRIME MINISTER YILMAZ IN MACEDONIA
Prime Minister Mesut Yilmaz, the first Turkish Prime Minister to visit Macedonia, was welcomed yesterday by his Macedonian counterpart Branko Crvenkovski in Skopje. After meetings between the Turkish and Macedonian delegations, the two prime ministers signed a joint declaration for liberalization of trade between the two countries. Meanwhile the Ministers of Social Security and Labour of both countries signed an agreement on ensuring social security between their two countries.

After the meeting Yilmaz said that they aimed at increasing trade between Turkey and Macedonia, adding that they had exchanged views on the Kosovo issue. Yilmaz noted that the Turkish Airlines (THY) Istanbul-Skopje flights had already started and that a Turkish Honorary Consulate in Bitola, where Ataturk graduated from military high school, would be opened soon. A Turkish Cultural Center would also be activated in Skopje, added Yilmaz. Yilmaz invited his Macedonian counterpart to Turkey. Mesut Yilmaz was later received by Kiro Gligoru, the Macedonian President, and also met with Tito Petkovski, the Speaker of the Parliament. /Hurriyet/

FIRE IN AEGEAN FORESTS
Several forests in the southern Aegean regions of Anatolia have been severely damaged by fires. After fires in Datca, Yatagan and Gocek, a 90 kilometres square forest fire was burning in the Mugla region yesterday. Fire brigades failed to put out a fire which broke out the previous night in Fethiye. Another 15 kilometres square green area has been destroyed by fire in Fethiye while a 60 kilometres square wooded area has been destroyed in a fire in Bodrum, after a short circuit in energy lines. /Milliyet/

CEM CONTINUES CONTACTS IN ISRAEL
Ismail Cem, the Foreign Minister, and an accompanying delegation will start their contacts in Israel today. It is expected that at the meetings Israel will ask Turkey to be more active in the Middle East Peace Process. Cem will also meet with Benjamin Netanyahu, the Israeli Prime Minister and Foreign Minister. After completing his contacts in Israel, Cem will proceed to the Gaza Strip to meet with Yaser Arafat, the Palastinian leader. /Hurriyet/

RO-RO TEKIRDAG-TRIESTE CONNECTION
A Ro-Ro ferry connection between Tekirdag and Trieste, Italy, has been opened. The Ersen, Gur and Esin transport firms have joined to establish the EGE RO-RO, which will also transport long-vehicles. Officials announced that there will be three connections a week, and the daily loading capacity of the Tekirdag harbour has been increased to 2,500 tons. With the Ro-Ro connection between Tekirdag and Trieste, highway transports through Greece will be cut out. /Hurriyet/

INDUSTRIAL PRODUCTION UP 8.4 PERCENT
Production in industry has increased 8.4 percent in the first five months of the year. According to the State Institite of Statistics, there has been a 16.4 percent increase in mining, 8.1 percent in production, and a 7.7 percent in the electricity, gas and water industries. /Hurriyet/

TURKISH JEWELERY IN ITALIA
Turkish jewellers are exhibiting at the Gold Jewelery Fair in Vicenzaoro in Italy. The fair, which is one of the most important jewelery fairs in the world, is visited by over 40,000 visitors from 90 countries every year. The Turkish participants have asked the fair administration to continue to exhibit their goods after the fair closes. /Hurriyet/

WORLD BANK SUPPORTS TURKEY AGAINST THREAT OF EROSION
The World bank will extend credits of 100 million US dollars to Turkey, which will be used to struggle against erosion in the southern and southeastern provinces of Turkey. A Turkish delegation, which is currently in the US to benefit from US experience in the struggle against erosion, has already visited Colorado and Wyoming. Nevzat Uslucan, the Chairman of the Turkish delegation, composed of 15 experts from the Ministry of Forestry and the Ministry of Agriculture and Rural Affairs said, ''The US has solved the problem of erosion and Turkey will use the newest methods and techniques to overcome this problem. New projects will aim at preventing erosion and at developing forests in Turkey."

[09] TURKEY PRESS REVIEW (2)

(Derived from the Newsspot of the Turkish General Directorate of Press and Information.)

TURKISH-GREEK BALANCE IN NATO
In the process of expansion the NATO is preparing to change its military structure. Within the framework of a new military structure to be completed in December, Turkey and Greece will be turned into ''Joint Sub-Region Command Centres''. Equal numbers of personnel will be employed at the Command Centres in both Izmir and Larissa and a balance between the two nations will be ensured. At the Centres where the multinational NATO command principles will be implemented, Turkish officers will serve in Larissa, and Greek officers will serve in Izmir. The Command Centres will be responsible for the Aegean during a war./Sabah/

SIX VILLAGE GUARDS KILLED BY PKK MINES
The village guardsmen guarding the road near Semdinli, Hakkari, were killed by mines laid by the PKK terrorists as they were to defuse the mines. After the incident a large-scale search operation was started in the region./Sabah/

SECOND ROUND OF BANK INTEREST RATE REDUCTIONS
Following a recent reduction in the bank interest rates, a second reduction has been made in the interest rates by some banks. The Stock Exchange market, which reached a record high last week, also closed with a small record yesterday. The Central Bank has intervened by holding down the US dollar rate. Ergun Ozen, the Deputy General Director of the Garanti Bank, said yesterday that as opposed to recent years, devaluation was occurring below the level of inflation, but during the last period it was going at the same pace. He believed this was done to contribute to the current balance. /Sabah/

TURKEY REQUESTS LOAN OF THREE BILLION US DOLLARS
During a telephone briefing about his contacts in the US, Gunes Taner, the Minister of State Responsible for the Economy, told

Prime Minister Mesut Yilmaz, who is in Macedonia for an official visit, that Turkey's request for a loan of three billion US dollars had been receieved positively by the officials from the International Monetary Fund (IMF) and the World Bank. /Milliyet/

''S-300 MISSILES CAN BE DESTROYED IN SEVEN MINUTES''
In the event that the Greek Cypriot National Army deploys the Russian-made S-300 missiles in southern Cyprus and the Turkish

General Staff puts an 'attack' plan into implementation, the Turkish jets could destroy all the missile silos in between seven and nine minutes. According to Fileleftheros newspaper published in the Greek Cypriot Administration, the Turkish General Staff has been in a dilemma over the issue of how to retaliate if the S-300 missiles are deployed on the island. /Cumhuriyet/

NEW ISRAELI AMBASSADOR IN TURKEY
Uri Bar-Ner, Israel's new Ambassador to Turkey, said in a statement to the Cumhuriyet daily newspaper yesterday that military cooperation between Turkey and Israel had positively affected Turkey's relations with the Arab world. Ambassador Bar-Ner noted that the Middle East should decide whether the Turkish democrat or the Iranian Islamic Republic model would be chosen. He stated that Egypt was afraid that Turkey would gain advantages in the region. /Cumhuriyet/

250 MILLION DM FOR SOUTHEAST
The European Union (EU) countries have launched initiatives to extend aid to the villages in the Southeastern Anatolia region, evacuated because of security reasons. Representatives of international aid organizations have made observations for a

''Return to the Villages Project'' being implemented in the Southeastern Anatolia region. The German government will extend 250 million DM to the project. /Cumhuriyet/

TRAFFIC ACCIDENTS: 45 DEAD
In various traffic accidents throughout Turkey yesterday, 45 people lost their lives while 78 people were injured. Those injured in the accidents were taken to nearby hospitals. /Cumhuriyet/

[10] TURKEY PRESS REVIEW (3)

(Derived from the Newsspot of the Turkish General Directorate of Press and Information.)

FIRE IN TRNC BROUGHT UNDER CONTROL
A fire that broke out on Saturday at the Greek side on the island of Cyprus and, which due to strong winds, passed the demarcation zone and reached the towns of Yesilirmak and Bademlikoy at the Turkish side on the island, has been brought under control. Dervis Eroglu, the Prime Minister of the Turkish Republic of Northern Cyprus (TRNC), noted that the fire destroyed 2, 700 hectares of forest and 1,000 hectares of agricultural land. /Cumhuriyet/

ZIRAAT BANK IN BULGARIA
The state-run Ziraat Bank will open a new branch in Bulgaria, which has been passing through a transition process to democracy and a liberal economy. The new Ziraat Bank branch in the capital of Sofia will be opened with a ceremony attended by Prime Minister Mesut Yilmaz on Saturday. Ivan Kostov, the Bulgarian Prime Minister, is also expected to participate in the ceremony. /Cumhuriyet/

CATCHING UP WITH THE EDUCATION AGE
A seminar entitled 'Catching up with the Education Age 2000 Project' organized by the Ministry of National Education, and financed by the World Bank to present the advancements made under the newly implemented eight- year compulsory education system in Turkey was held yesterday in Kizilcahamam, Ankara. Speaking at the seminar's opening on Monday, Hikmet Ulugbay, the Minister of National Education said that at the time when the law establishing the eight-year compulsory education system was enacted, preparations were also made for its successful implementation. Ulugbay cited the 20 percent increase since last year in the number of students registered in the sixth grade as proof that the system was working. The minister praised the administration for its ability to successfully meet the demands of the public. Further, Michael Mertaugh, the World Bank Team Leader, said that the World Bank recognized the importance of the 'Catching up with the Education Age 2000 Project' and was allocating resources for its support.

ECEVIT PROMISES HOMES FOR EARTHQUAKE VICTIMS
The state will assist the Adana residents whose houses were seriously damaged by the recent earthquake by paying rents for one year, Deputy Prime Minister Bulent Ecevit said. In addition to financial assistance on housing rentals, Ecevit also announced that the state will construct new houses in the region that will be offered to earthquake victims with interest-free loans. Speaking to the press at the Prime Ministry yesterday, Ecevit said that rescue work in Adana and Ceyhan has been completed, but that investigations are continuning to determine the full extent of the damages. Financial aid to the region has so far reached 1 trillion TL, he added. /All papers/

TURKISH-JAPANESE VACCINES COOPERATION
A joint Japanese-Turkish project begun three and one half years ago aimed at improving vaccine quality has been completed. The Japan International Cooperation Agency's (JICA) representative in Turkey, Tatsuo Yonebayasi, said that the project on the ''Development and Evaluation of Biological Products' Quality Control'' had been successful. Japan donated apparatus and equipment worth 303 million Japanese Yen and arranged for 16 Turkish experts to be trained in Japan.

[11] TRAFFIC ACCIDENT IN PRIME MINISTER YILMAZ'S CONVOY - STATE MINISTER YUCELEN, ALTINER, DEPUTY FROM KARABUK, JOURNALIST FIKRET BILA, SECURITY OFFICIALS AND DRIVER INJURED

Rustu Kazim Yucelen, the Minister of State, Sinasi Altinel, the Deputy from Karabuk, Fikret Bila, journalists, security official and the driver of the vehicle were injured at the accident.

The injured ones were taken to the Bitola hospital. The Macedonian officials requested Turkey to send a plane that will carry those who were injured back to Turkey.

[12] TWO SLIGHT TREMORS IN ADANA PROVINCE AND ITS SURROUNDINGS

The Bogazici University Kandilli Observatory Earthquake Research Institute officials said that the first tremor measuring 3.2 on the Richter Scale occurred at 1:59 p.m. and the second one measuring 3.3 on the Richter Scale occurred at 4:00 p.m.

A total of 89 earthquakes have shaken Adana Province and its surroundings in the past days since the major earthquake measuring 6.3 on the Richter Scale.

[13] STANDARD AND POORS OFFICIALS ARRIVE IN ANKARA

The S and P officials, who waited for the signing of the ''Close Staff Monitoring'' between Turkey and the IMF before visiting Turkey, will get information about the developments in the Turkish economy in Ankara.

The officials will return to New York next week after meeting with the officials from the Treasury, Foreign Trade, Finance, Central Bank, Privatization Board and State Planning Organization.

S and P is expected to publish an evaluation on ''Turkey'' in September.

The institution gave a ''B'' mark to Turkey in December 1996.

[14] EFFORTS TO DETERMINE THE OVERALL DAMAGE CAUSED BY THE MAJOR QUAKE IN CEYHAN COMPLETED - 319 BUILDINGS COLLAPSED, 1,956 BUILDINGS WERE SERIOUSLY DAMAGED

Mehmet Oklu, the governor of Ceyhan County, told the A.A correspondent that 59 people died in the quake and 196 houses, 21 offices and five shelters of animals fully collapsed and 1,090 buildings, 99 offices and 18 shelters of animals were partially destroyed in Ceyhan.

Oklu added that an assistance will be extended to those people in payment of their rents.

[15] 988,110 FOREIGN TOURISTS VISIT TURKEY IN MAY 1998

The State Institute of Statistics (DIE) data shows that 99,527 of them came to Turkey by sea.

The number of foreign tourists who visited Turkey in May 1997 was 1,003, 336. Thus the number of tourisits decreased by 1.6 percent in May 1998 compared to May 1997.

A total of 70.2 percent of the total foreign tourists who visited Turkey in May 1998 preferred to travel with airlines and 15.4 percent of them by road, 13.3 percent by sea and 1.1 percent with railways.

The DIE statistics show that a total of 2,831,000 foreign tourists visited Turkey in the January-May 1998 period. The number of foreign tourists in the same period last year was 2,820,000. Thus the number increased by 0.4 percent.

[16] TRAFFIC ACCIDENT IN PRIME MINISTER YILMAZ'S CONVOY - PREMIERSHIP STATEMENT: YUCELEN, ALTINER AND BILA IMMEDIATELY TAKEN TO HOSPITAL

The Premiership statement related to the accident said that Rustu Kazim Yucelen, the Minister of State, Sinasi Altiner, the Deputy from Karabuk, Fikret Bila, the journalist from the Milliyet Newspaper, a security official and the driver of the vehicle were injured at the accident. Two of the passengers from the Macedonian licenced car, which caused the accident, died.

It said those who were injured were taken to the Bitola hospital and that they weren't in serious condition. The Macedonian officials requested Turkey to send a plane that will carry those who were injured back to Turkey.

It said that Halil Ibrahim Ozsoy, the Minister of Health, made all the necessary preparations.

Meanwhile, President Suleyman Demirel called Prime Minister Mesut Yilmaz on the phone and got information about the health conditions of those who were injured. Demirel expressed his sorrow about the accident and wished a speedy recovery to those who were wounded.

[17] MEETING OF COUNCIL FOR MONETARY CREDIT AND COORDINATION - STATE MINISTER ISIN CELEBI: - ''WE FORESEE THE INFLATION TARGET FOR JULY, AUGUST AND SEPTEMBER TO BE NINE PERCENT''

The meeting of the Council for Monetary Credit and Coordination chaired by Celebi concluded. Following the meeting of the Council, Isin Celebi said that they reached a consensus on the public announcement of the economic programme in three-month targets and on carrying out activities in discipline. ''We have reached an agreement on keeping the inflation rate at nine percent for July, August and September and on carrying out a more disciplined work on this programme,'' Celebi added.

Celebi stated that they made a decision of recommendation to the government for the inflation target of nine percent for the third quarter of the year.

''Our programme, three-month targets, budget borrowing, budget policies, surplus excluding interest, foreign trade and privatization will be publicly announced. We continue to provide discipline in this issue with our three-month programmes,'' he mentioned.

''The inflation target foreseen for the first quater of 1998 was 14.8 percent. The realization was 15.9 percent. The target for the second quarter was 7.5 percent while the realization was 9.1 percent. We foresee an inflation target of nine percent for the third quarter, that is, July, August and September 1998,'' Celebi stressed.

Celebi added that they were resolved to implement the programme in accordance with their inflation target.

Responding to a question, Isin Celebi said that the nine percent inflation target for the third quarter was indexed to the Wholesale Prices Index.

[18] FOREIGN CAPITAL PERMITS - 243 MILLION US DOLLARS IN FOREIGN CAPITAL PERMITS GIVEN IN JUNE

The Undersecretariat of the Treasury said in a written statement that 95.17 million US dollars of the total foreign capital, which received investment permits in June, belonged to the European Union (EU); 116.58 million US dollars belonged to the OECD countries not in the EU and 31.51 million US dollars to other countries' organizations.

A total of 152.77 million US dollars in investments will be made in the manufacturing industry; 85.53 million US dollars in investments in the services sector; 3.27 million US dollars in the agricultural sector and 1.69 million US dollars in the mining sector.

The Pfizer company leads in the category of the organizations with foreign capital which got permits for investments in June. The Pfizer realized 41 million US dollars in capital increase. A portfolio investment permit of 27 million US dollars was given to the Imbat Mesrubat Inc. and a portfolio investment permit of 17 million US dollars was given to the Ozdag Distribution Marketing Inc. in June. The KSA 5318 got a new investment permit of 23 million US dollars.

Meanwhile, the total foreign capital permits in the first half of the year increased to 944.3 million US dollars. The total permits in the same period last year was 785 million US dollars. Thus the foreign capital permits in the first six months of 1998 increased by 20.2 percent compared with same period in 1997.

The total amount of foreign capital permits given since 1980 reached 23 billion 148.9 million US dollars. The active entrance was 10 billion 695 million US dollars.

As of 30 June, a total of 4,257 organizations and companies having foreign capital are operating in Turkey. The total capital of those organizations and companies is 620 trillion Turkish Liras (TL) including 358 trillion TL in foreign capital.

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