However, not everything is perfect in Turkey. Rapidly increasing domestic demand, problems in traditional export markets and global commodity prices significantly increased Turkey's current account deficit, said Simsek who held a press conference in Ankara on Tuesday to make public budget performance in the first nine months of 2011 and projections for the end of 2011 and the draft budget for 2012.
Noting that the growth rate which was envisioned for Turkey in mid-term program for 2011 was 7.5 percent, Simsek said that it would be four percent in 2012 due to slow down in global economy.
Simsek said that foreign trade volume of Turkey increased 23.2 percent in 2010, adding that it was expected to increase 24.1 percent in 2011.
The inflation is envisioned to rise to 7.8 percent this year, said Simsek. |
Source : en.cumhuriyet.com
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