Turkish finmin says current deficit to shrink in 2012

ANKARA (A.A) - January 11, 2012 - Turkish Finance Minister Mehmet Simsek said on Wednesday that current account deficit would shrink in 2012. Appearing on a tv program, Simsek said, "several factors made a negative impact on current account deficit in 2011 and we don't expect such negative factors in 2012." Developments called as "Arab Spring" and lack of domestic demand in EU were among these negative factors, he said. "EU is the most important trade partner of Turkey. But there is lack of domestic demand in EU. They don't consume and make investment. But Turkey will almost break a world record in growth," he said. Simsek said current account deficit would drop in 2012 and it would probably keep dropping in the coming years as well. Inflation figure would also decrease as of the second half of 2012, he added.