Finance Minister Şimşek: Turkey has one of the highest growth rates in the world

Turkish Finance Minister Mehmet Simsek said that Turkey was one of the countries which had the highest growth speed in the world during such a global economic crisis milieu.

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.

19 October 2011
SOURCE: MEDIA