IMF raises forecast on Turkey’s inflation

WASHINGTON - Anatolia News Agency

The International Monetary Fund (IMF) forecasted Turkey’s year-end 2012 growth at 2.3 percent yesterday and increased its 2012 inflation expectation to 10.6 percent from 6.5 percent, according to the IMF’s world economic outlook report.

According to the report, Turkey’s gross domestic product (GDP) will be 2.3 percent at the end of 2012.

Turkey will grow 3.2 percent in 2013 and annual consumer prices may be around 10.6 percent in 2012 and around 7.1 percent in 2013.

The report also predicts that Turkey’s current account balance ratio to GDP will be around -8.8 percent in 2012 and -8.2 percent in 2013.The IMF report forecasts the unemployment rate to be around 10.3 percent in 2012 and 10.5 percent in 2013.