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World Bulletin / News Desk

Morgan Stanley dropped its expectation for Turkey's current account deficit in 2012 to 6.9 percent.

The expectation for 2013 was also decreased to 6.5 percent.

Morgan Stanley's prediction for Turkey's current account deficit in 2012 had been 7.5 percent, and it revised the expectation as 6.9 percent for 2012, and as 6.5 percent for 2013.

The company also stated that Turkey's credit rating could be increased, if the country pursued a sound fiscal performance and sustained a financial balance.

Morgan Stanley also predicted that Turkey's rate of inflation in June would decrease 0.4 percent when compared to May due to reducing oil prices and demands.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 43 countries.