Mr Ulugbay shot himself after details of talks with the International Monetary Fund were alleged to have been leaked via politicians to a brokerage house, which then made huge trades on the stock market.

The Turkish Prime Minister, Bulent Ecevit, who escorted Mr Ulugbay out of hospital, called him an important economist who would continue to contribute to the country.

He did not say whether Mr Ulugbay would return to his post.

Leaked document

Mr Ulugbay, 60, an MP from Mr Ecevit's Democratic Left Party, recently conducted two weeks of talks with the IMF to try and secure funds that would help attract foreign investment.

He was said to be saddened by a reported leak of a secret IMF document to a brokerage firm owned by a cousin of former prime minister Mesut Yilmaz, a coalition partner in the government.

Mr Yilmaz said he was shown the secret documents by Mr Ulugbay himself, but denied accusations that he passed details to market traders.

Sense of responsibility

The prime minister rejected press reports that Mr Ulugbay's suicide attempt may have been linked to the affair.

''This is an ugly and untrue allegation...We cannot know the reason, but Mr Ulugbay is a man with an extraordinarily strong sense of responsibility.

''The IMF talks really tired him out," Mr Ecevit added after visiting the minister in hospital.

The government has denied allegations of insider trading.