Turkey current account deficit 'may drop to 5 percent'

Central Bank Governor Basci said that the country's current account deficit would be under 6.6 percent in 2013.

Turkey current account deficit 'may drop to 5 percent'

World Bulletin / News Desk

Central Bank Governor Erdem Basci said that it seemed possible to drop current account deficit to five percent in 2013. In 2012, current account deficit will be under 6.6 percent, Basci told reporters on Tuesday.

Basci said that five percent current account deficit was a better performance than it was envisaged in mid-term economic program.

Touching on the ratio between growth rate and inflation rate, Basci said that economy grew by itself when inflation was eliminated, adding that inflation was an important obstacle before growth.

If Turkey grows five percent, it will become one of the fastest growing countries of the world, said Basci, adding that four percent growth rate would also carry Turkey among leading countries in economy.

Basci expressed belief that Turkey would be among top five countries in the world with its growth rate this year too.

Turkey will easily reach its 2023 target with a five percent annual average growth rate, he added.

Last Mod: 29 Ocak 2013, 14:53
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