TURKEY CENTRAL BANK SURVEY SEES END-2010 CPI +7.73%

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TURKEY CENTRAL BANK SURVEY SEES END-2010 CPI +7.73%
08.07.2010 17:13

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İSTANBUL (İHA) - The annual rate of inflation in Turkey is expected to fall to 7.73% by end 2010, down from 8.01% previously forecast, a survey by the country's central bank showed Thursday.

The central bank's twice-monthly poll of business leaders and economists also put July's expected monthly inflation rate at 0.02%.

The latest official data showed consumer prices fell 0.56% on the month in June, taking the annual inflation rate to 8.37%.

Turkey's gross domestic product this year is expected to grow 5.4%, the survey showed, up from the previous forecast of 5.2%. Turkey's gross domestic product rose 11.7% on the year in the first quarter of this year after a 6.0% growth in the fourth quarter of 2009.

The survey also showed that market participants expect the current-account deficit to widen to $31.712 billion in 2010 from the previous forecast of $31.053 billion.

In 2009 as a whole, the current account deficit was $13.85 billion, narrower than the $41.95 billion shortfall the previous year.

The survey forecast that the Turkish lira will trade at TRY1.5700 against the dollar by the end of the year, from a previous forecast of TRY1.5800. It currently trades at around TRY1.5500.
(SB-SB-ENG)

08.07.2010 17:13:08 TSI
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