Turkey central bank expects 4 growth next year

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The Turkish economy is expected to post growth of at least 4 percent in 2013, according to a projection by the central bank on Tuesday.

“We expect a growth of 4 percent or above in 2013,” Central Bank governor Erdem Basci told reporters in Ankara.

The Turkish economy recorded spectacular expansion in 2010 and 2011, with 8.9 and 8.5 percent growth, to rank among the world's fastest-growing economies.

But its expansion started slowing down in late 2011, with a growth rate of 5.2 percent - which was painted as a healthy easing of business activity.

The Turkish economy posted markedly slower growth of 1.6 percent in the third quarter of 2012 from the same period a year earlier, official statistics revealed early this month.

The third quarter official result pulled down nine-month growth in Turkish gross domestic product to 2.6 percent, which was well below the official forecast of 3.2 percent.

Government forecasts expect 4 percent yearly growth in 2013 and 5 percent each in 2014 and 2015.

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