Turkey’s Ministry of Finance reveals 2012 budget performance
Minister Mehmet Simsek revealed the results of the 2012 budget at a press conference on 15th January 2013.
The Minister appraised the performance of the economy administration and emphasized the following important points;
- After a long while, a growth below potential occurred in 2012.
- Risks in the global economy began to decline.
- The economy began to decline in the last quarter of 2011 and started to slow down under control.
- The current account deficit was pulled down to $ 26.5 billion in 2012 which was big a success.
- A Turkey independent of foreign resources in energy, could have achieved a surplus of $ 8.1 billion.
- Economy is estimated to close 2012 with an approximate growth of 3 per cent.
- Growth will accelerate in 2013 with the effect of domestic demand.
- Increase in credit rating will contribute to growth positively.
- Decline in inflation will continue in 2013 to a figure of 5.3 percent.
- The decline in inflation has strengthened the central bank.
- The central government budget deficit was 15,5 billion liras and primary deficit was 13,8 billion liras.
- Budget deficit was 28,8 billion liras in 2012.
Based on the minister ‘s explanations and figures announced it could be said that Turkey has left behind quite a successful year in 2012. The government of Turkey is understood to believ that the economy is on the right track again after a tough challenge in the storm of “global crisis” which knocked down several economies in 2012.
15.01.2013
Media & Editor BTT
