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Turkey expects high level capital inflow in 2015

Xinhua, January 16, 2015 Adjust font size:

Turkey estimates a strong capital inflow in 2015, Turkish Deputy Prime Minister Ali Babacan said in Ankara on Friday.

Turkey expects that 2015 will be a better year for Turkey comparing to 2014 in every way, Babacan said in a statement.

"Our inflation target is still 6 percent level. We should watch the oil prices a little more time. If prices continue at this level, probably we could experience the 5 percent level of inflation in 2015," Babacan said, adding that Turkey easily achieved its inflation target of 6.3 percent and growth rate of 4 percent in 2014.

"Every 10 U.S. dollars drop of the oil prices reduces Turkey's current account deficit by 4.4 billion dollars," Babacan said.

Turkey's current account deficit has been narrowing, as the 12-month cumulative deficit narrowed to 46.7 billion U.S. dollars in September 2014 and the highest level was 76.8 billion U.S. dollars in October 2011. Endit