Turkish Central Bank head predicts 4% economic growth

Head of Central Bank of Turkey estimates his country's economic growth to be around 4 percent in 2014.

Turkish Central Bank head predicts 4% economic growth

World Bulletin / News Desk

Governor of Turkey´s Central Bank, Erdem Basci, predicts Turkey’s economic growth will be close to 4 percent in 2014.

Basci said in a meeting held in London on Thursday that Turkey’s economy is more resilient than expected.

However, the European Commission in its February report downgraded its expectations for Turkey’s economic growth to 2.5 percent in 2014 and 3 percent in 2015, making it a half a percent less for this year and a 0.8 percent decrease for 2015.

Basci expects Turkey’s economy to grow in line with the Medium-Term Economic Plan, which estimates growth to be about 4 percent in 2014 despite lower growth estimations from economy authorities.

On March 31, Turkish Statistical Institute (TurkStat) announced a 4 percent economic growth in 2013, which was above the 3.6 percent growth rate predicted in the government’s medium term economic plan.

Turkey’s current account deficit is expected to improve substantially in 2014 with the support of growing exports and the loss of momentum in private final domestic demand in the forthcoming period, Basci said.

Last Mod: 04 Nisan 2014, 09:36
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