OECD: Turkeys CA deficit expected to widen in 2012.

By bne IntelliNews September 9, 2011

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.

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