The Brief confirms that the growth forecast will remain at 3 percent for 2015, with the current account deficit falling to 4.6 percent of GDP.Under the assumption that further pressure on the exchange rate can be contained, 12-month inflation is likely to decline to 7 percent by December 2015.This photograph was produced by Agência Brasil, a public Brazilian news agency.If the file has been modified from its original state, some details such as the timestamp may not fully reflect those of the original file.The stronger than expected growth in Q1 is balanced by the uncertain political environment in the aftermath of the June elections.
Despite declining food prices, lira depreciation and increases in oil prices pushed inflation higher.
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Ankara, July 1, 2015 —Political uncertainty continued after the parliamentary elections, creating some downside risks to the 2015 growth forecast of 3 percent according to the World Bank’s Turkey Regular Economic Brief [i] (July) - issued today in Ankara.
However, the gold adjusted deficit, a more accurate measure of external demand, deteriorated due to persistent weakness in Turkey’s trading partners.
The Brief indicates that inflation is likely peaking.
However, net errors and omissions showed an inflow of $7.8 billion.