"The fast fish, not the big fish, eats the small fish."
About Ali Babacan
Ali Babacan — Life and Legacy
Ali Babacan is a prominent Turkish politician and economist, recognized for his significant contributions to Turkey's economic transformation during his tenure as Minister of Economy and Minister of Foreign Affairs. His policies focused on fostering economic stability and growth while promoting democratic values. Babacan's core thinking revolves around the belief that sustainable economic development must be inclusive and equitable. He famously stated that 'economic growth should not come at the expense of social justice,' reflecting his commitment to balancing market dynamics with social welfare. This perspective challenges the often singular focus on GDP growth, advocating instead for a holistic approach that considers the well-being of all citizens. Babacan's insights remain relevant today as nations grapple with the complexities of economic recovery and social equity. His emphasis on transparency and accountability in leadership continues to resonate, inspiring a new generation of policymakers to prioritize ethical governance alongside economic progress.
Quote collection
Ali Babacan quotes
11 quotes — follow a thought to its full quote page.
"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."
"Population is a strong driver of the economy as well as the quality of the labor force."
"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."
"Whatever the scenario, the dynamism of developing nations, their demographics and competitive power are great sources for superiority."
"Greece is not an easy country to do business in."
"Islam and democracy can function together."
"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."
"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."
"Turkey is widely envied while there are very serious troubles in the world economy."
"Turkey's economy is powerful enough to tackle tough times."