OECD predicts strong growth for Turkey

Turkey’s current account deficit reached $9.822 billion after the first eight months 2004, with the government having targeted for a year end deficit of $10.8 billion.
“Given the strength of the economy and the risk of a further widening of the current balance deficit, the authorities should resist any temptation to loosen the fiscal stance and use additional revenues from higher growth for debt reduction,” the report said.
The OECD’s economic survey of Turkey estimated that inflation would fall to eight to nine percent in 2005, within the government’s plans to bring inflation down to single digits by the end of next year.
The report also said that the recent recommendation by the EU commission to start EU accession negotiations, if taken up by the EU’s leaders at their December summit, should further strengthen the “international anchors and could underpin Turkey’s shift to a new economic regime”.