Turkish finmin says current deficit will shrink as of beginning of 2012

ANKARA (A.A) - November 15, 2011 - Turkish finance minister said on Tuesday that they foresaw that current deficit would shrink as of the beginning of next year. Finance Minister Mehmet Simsek replied to questions of reporters after attending an event entitled "Humawealth", organised by the Global Coalition For Efficient Logistics and the Union of Arab Banks in Ankara. Simsek said that a recession was highly possible in the European Union currently, when answering a question. "Turkey can be affected by global shocks, but it has sound macroeconomic bases. We hope that Turkey will overcome it with least impact on its economy," he said. Replying to a question on euro zone crisis, Simsek said he thought that EU leaders would do their best to prevent a split in euro zone.