World Bulletin / News Desk
Turkish Economy Minister Zafer Caglayan has predicted that his country's year-end GDP growth rate would stand at 4 percent.
"As we see in our Medium Term Program, we are confident that we will attain a growth rate of 4 percent," Caglayan told reporters in a press conference on economy's performance in the first half of 2012.
Caglayan said economy had grown 9.2 percent and 8.5 percent in 2010 and 2011, respectively, adding that the country had achieved an average of 8.1 percent growth rate for the 10th quarter in a row with a Q1 2012 growth figure of 3.2 percent.
"Turkey's current account deficit continued to drop for the 8th consecutive month. It was down by 30 percent from
TRY44.7 billion to TRY31.1 billion. And on monthly basis, the economy had seen the lowest current deficit figure in June in 10 months with TRY4.2 billion," he said.
The Turkish minister said the country's recent unemployment figure was to 8.2 percent, which he said was the lowest figure achieved so far, adding that the economy created nearly 2 million jobs in Q2.
Caglayan predicted that Turkey's exports had increased 13.4 percent in the first half of 2012 to reach $74.4 billion from $65.6 billion in the same period in 2012.
Caglayan said Turkey's exports to markets excluding the European Union had increased 33 percent as exports to the EU had dropped 6.8 percent.
Trade deficit continued to decrease for the 8th consecutive month from $54.2 billion in the first half of 2011 to $42.7 billion in the first half this year, he said, adding that the reduction owed to a hike of $8.9 billion in exports and a drop of $2.6 billion.
Caglayan said ratio of exports to imports rose to 63.5 percent in the first half of 2012 from 54.8 percent in the same period a year earlier.
The economy minister said in the first six months of 2012, foreign direct investments in Turkey was up by 20 percent to reach $8.2 billion from $6.8 billion in the first half of 2011.
Caglayan said FDI flow in Turkey had totalled $117.8 billion since 2003, adding that year-end figure for 2012 was estimated to stand around $20 billion.
Soldiers who allegedly took part in attack targeting Turkish president's hotel the night of the failed coup are detained
Judicial council announces appointments following president's decree on restructuring
Çavuşoğlu warns that Gülen may attempt to topple the government of a 3rd country he may ask asylum
Discount on natural gas prices will be made even if gas price arbitration cases are not concluded, energy minister says
Police searches reveal dollar bills believed to be used as code within Fetullah Gulen organization
Central Bank says it will expand rediscount credit facility by $3 billion to $20 billion post-coup plot
Officers rounded up in wide-ranging campaign of arrests following failed July 15 coup
Turkey's biggest LPG company will relentlessly continue its investments for the long term, says CEO of Ipragaz
A move to detain journalists is the latest in a string of arrests since the failed coup of July 15
Turkish diplomat says state of emergency is 'not martial law'
Republican People's Party (CHP) leader addresses thousands at rally in Istanbul's Taksim Square
Chief of General Staff Hulusi Akar says army, police will stand shoulder to shoulder
Meeting scheduled for July 25 at presidential palace in Ankara
Supporters of the ruling party as well as from the opposition as well as those from across the political spectrum gathered in Taksim square to defend their country
A massive fire broke out overnight near the NATO base in Turkey in what officials fear may be a sabotage attempt.
Wheelchair-bound Bennur Karaburun told colleagues: 'Let's wear our shrouds'