IMF Raises Forecast for 2010 Turkish Economic Growth to 5.2%
26th April 2010
April 21, 2010, 9:20 AM EDT
By Steve Bryant
April 21 (Bloomberg) -- Turkey's economy may expand 5.2 percent this year, the International Monetary Fund said in a report today, raising its forecast as domestic demand helps the country recover from recession.
The IMF prediction exceeds the government's estimate of 3.5 percent growth and is higher than the 3.7 percent the fund forecast in its October issue of the World Economic Outlook. The Washington-based lender expects Turkish growth to slow to 3.4 percent in 2011.
The economy expanded an annual 6 percent in the last three months of 2009 and Deputy Prime Minister Ali Babacan said on April 7 that the official goal for 2010 is conservative and likely to be raised in June when the government updates its medium-term economic plan.
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