January 15, 2013 / 9:10 AM / 7 years ago

UPDATE 1-Turkey economy seen growing 4 percent or more in 2013

ANKARA, Jan 15 (Reuters) - Turkey said on Tuesday that economic growth will pick up this year to 4 percent or more and inflation will fall.

The World Bank, however, warned that the country was facing a wider current account deficit.

Finance Minister Mehmet Simsek told a news conference the economy grew around 3 percent last year and was heading up in 2013 to at least 4 percent. Inflation was expected to fall to 5.3 percent this year from 6.16 percent in 2012.

The budget deficit was expected to have been 2 percent of gross domestic product last year, Simsek said.

In an economic note on Turkey published twice yearly, the World Bank said it expected the Turkish economy to grow 4 percent this year and 4.5 percent in 2014.

It saw the consumer price inflation inching down to 6.1 percent this year and 5.2 percent in 2014.

But it said Turkey’s current account deficit, a measure of a country’s competitiveness and fiscal stability, is expected to widen to 7 percent of national output this year from 6.8 percent in 2012. It is seen narrowing again to 6.8 percent in 2014.

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