ANKARA: Turkey's economy is expected to grow 3.3-3.4 percent this year and 4 percent in 2015, falling short of government targets due to weak European growth and conflict in the Middle East and Ukraine, a senior economy official told Reuters on Thursday.
Finance Minister Mehmet Simsek and Deputy Prime Minister Ali Babacan have indicated Turkey is likely to fall short of its 4 and 5 percent growth targets for this year and next, but have yet to give new forecasts.
The government is due to review its medium-term programme, which includes the growth forecasts, in October.
"After last year's growth of 4.1 percent, any growth is a significant gain. Within the medium-term programme framework, year-end growth is expected to be 3.3-3.4 percent," the official said, adding that the targets were expected to be revised.
"We need to advance growth in a moderate but sustainable way. Growth of 5 percent next year currently does not look possible. Growth of 4 percent for 2015 looks much more reasonable," the official said.
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