Growth in emerging economies can help eurozone: Zoellick

21 Jul, 2011

Strong growth in emerging economies, notably Turkey, could be a background factor supporting eurozone countries as they fight a debt crisis, the World Bank president said on Wednesday. Emerging economies could help, Robert Zoellick said in an answer to a question while on a four-day visit to Turkey.
Zoellick said that that "a more successful growing (world) economy can help countries make adjustments", but that Europeans had to address their own debt problems.
"About half of global growth today comes from developing countries... It was 20 percent in the 1990s," Zoellick said.
Zoellick praised strong growth in Turkey, but warned that dynamic economies always risked slipping into high inflation.
In 2010, Turkey was the fastest growing economy in the G20 group of countries, with an annual growth of 8.9 percent.
In the first quarter of 2011, 12-month growth in Turkey was 11.0-percent.

Read Comments