As top vital presidential and deputy elections to be held in Turkey on June 24 approach the administration is continuing to have issues with economy. Most recently The Central Bank of Turkey has increased its year-end inflation expectation from 11.07 percent to 12.28 percent.
Based on a monthly survey conducted by the Central Bank with 96 participants consisting of 75 financial sector, 13 real sector, and 8 professional members the year-end inflation expectation was reported to go up to 12.28 percent from 11.07 percent.
While the current year-end TÜFE (Consumer Prices Index) expectation was 11.07 percent in the previous survey period, it increased to 12.28 percent in this survey period.
The GDP growth expectation for 2018 which was 4.6 percent in the previous survey period went down to 4.2 percent in this survey period.
The year-end dollar exchange rate expectation rose from 4.44 liras in the previous survey period to 4.58 liras in this survey period
The current account deficit forecast for 2018 remained unchanged at 53.5 billion dollars in this survey period.
Source :http://businessturkeytoday.com/central-bank-increases-year-end-inflation-expectation-from-11-07-percent-to-12-28-percent.html