World Bank slashes its 2012 GDP growth forecast for Turkey to 2.9%.

By bne IntelliNews January 19, 2012
In the Global Prospects 2012 report, the World Bank (WB) cut its 2012 GDP forecast for Turkey to 2.9%. The WB said it expected Turkeys growth, estimated at 8.2% in 2011, to shrink to 2.9% this year, before firming to 4.2% in 2013. The report warned that Turkey is particularly vulnerable with its large current account deficit and large short-term debt vis--vis its reserves. In the previous Global Prospects Report, published in the summer of 2011, the World Bank predicted a GDP growth of 5.1% for 2012 and 5.3% for 2013.

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