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.
Data monitoring company IHS Markit also flagged a slight slowdown in France, where strikes were interrupting a resurgent boom on the back of government reforms.
Treasury reports central government debt stock in March rises around 15 pct year-on-year, reaching nearly $235 billion
Sales to foreigners amounted to 1,827, 15.8 pct rise year-on-year, according to official report
BIST 100 slips 0.15 percent; US dollar/Turkish lira exchange rate stands at 4.0460
BIST 100 rises 0.01 percent; US dollar/Turkish lira exchange rate drops to 4.0250
Fresh hopes that Donald Trump and North Korea's leader Kim Jong Un will hold a historic summit within months also provided some much-needed optimism.
The fund cautioned that investors and financial markets expect a steady approach to monetary tightening based on the belief inflation will remain relatively tame.
Turkey's assets abroad go up 2.4 percent at end of February 2018, compared to end of 2017: Turkish Central Bank
BIST 100 decreases 0.12 percent; US dollar/Turkish lira exchange rate stands at 4.1020
Hong Kong and China ended down after fluctuating through the morning on data showing the world's number two economy expanded in January-March at the same rate as the previous three months.
For Turkey, Germany is a very important, indispensable partner: Turkish Energy Minister Albayrak says in Berlin
BIST 100 rises 0.69 percent; US dollar/Turkish lira exchange rate stands at 4.0830
The United States, Britain and France carried out attacks at the weekend on alleged chemical weapons facilities, in response to what they say was a toxic gas attack by the Russia-backed Assad regime a week before.
Excluding interest payments, central government budget balance saw surplus of nearly $500M in first quarter of 2018
London's FTSE 100 index fell 0.1 percent to 7,254.83 points, with UK advertising giant WPP diving four percent after chief executive Martin Sorrell resigned over the weekend.