| In its Interim Economic Assessment, the OECD says Turkeys current account deficit is projected to rise further to 8.9% of GDP in 2012 from the projected 8.7% in 2011. OECD expects GDP growth to slow to 5.3% next year from 6.5% in 2011 and projects CPI inflation at 5.7% in 2011 and 6.1% next year. The OECD asserts that the authorities should closely watch if the new policy of raising bank reserve requirements without increasing policy interest rates delivers the intended slowdown in credit and economic activity and be ready to turn to other measures if needed. The OECD also urges structural reforms such as regional minimum wages. |
Related Articles
PKK leader Ocalan calls for ceasefire and withdrawal of militants from Turkey.
The jailed leader of the PKK, Abdullah Ocalan, called for a ceasefire on Thursday, ordering armed PKK militants to withdraw from Turkey. Hundreds of thousands of people gathered in the city of ... more
Syrian government says Turkey responsible for chemical attack.
The Syrian government said the rebel groups foreign supporters, Turkey and Qatar, were responsible for a chemical attack in Aleppo. The countries that back and support the rebels, including ... more
Erdogans comments on Zionism clouds US secretary of states Turkey visit.
US secretary of state John Kerry was in Ankara on Friday for talks with the Turkish leaders, including PM Recep Tayyip Erdogan and President Abdullah Gul, focused on the crisis in Syria, ... more