Ankara: Turkey’s economy will grow around four per cent this year and inflation will fall “comfortably” to the central bank’s forecast of 6.1 per cent, Finance Minister Mehmet Simsek said on Thursday.
Simsek 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. Announcing budget figures for 2014, Simsek said he would maintain strict control on public spending as Turkey approaches a June general election. The government is keen to maintain what is widely seen as its record on strong economic management ahead of the polls. The budget deficit stood at 22.7 billion lira ($9.97 billion) last year, Simsek told a news conference in Ankara, up from 18.5 billion in 2013 but sharply below a government target of 33.3 billion.