Economy: World Bank revises Turkey's growth to 4.3%

23 December, 12:39

    (ANSAmed) - ANKARA, DECEMBER 23 - The World Bank upwardly revised its forecast for Turkish economic growth this year to 4.3% from a previous 3.6%, but cut its outlook for 2014 to 3.5% from 4.5%, as daily Hurriyet reported. The country director for Turkey of the World Bank, Martin Raiser, and World Bank economist Cagdas Unal said in a news conference in Ankara that that inflation this year was seen at 7.5%, and revised the bank's forecast for 2014 to 6.2%, up from 5.2%.

    The World Bank revised Turkey's current account deficit to widen it to USD 61.1 billion this year from an earlier forecast of USD 57.2 billion. However, the Turkish government reduced in October the growth rate target from 4% to 3.6% for this year and from 5% to 4% for 2014, Deputy Prime Minister Ali Babacan announced at a press meeting. The Turkish Central Bank forecasted in November the inflation to edge up to 6.8% at the end of 2013, and 5.3% at the end of 2014, at higher levels than its previous forecasts of 6.2% and 5% respectively.(ANSAmed).

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