LONDON: Turkey’s economy will grow some 4 per cent in 2015 and inflation will fall comfortably to Central Bank forecast of 6.1 per cent, Finance Minister Mehmet Şimşek said pledging continued fiscal discipline ahead of a June election.
Turkey could reach at around 3 per cent of growth in 2014 despite the negative developments in the global economy, the Federations rate policy, the economic problems in the euro zone and regional woes in the Middle East and Russia.
Şimşek said the economy was expected to have grown about 3 per cent in 2014. He also forecast that the current account deficit would fall to 3-4 per cent of output if oil prices stay at their current levels.
He added our growth forecasts are more positive for 2015 as the world economy has started to revive. Any recovery in the euro zone wills also a positive impact.
Further he more added it is also a very small possibility to face some drought conditions this year and as opposed to we did last year. In this vein, we expect to grow at around 4 per cent this year.
Announcing budget figures for 2014, Şimşek vowed to maintain strict control on public spending as Turkey approaches a parliamentary election scheduled for early June.
