IMF decreases its growth prospect to 0.4 percent for Turkey

The International Monetary Fund (IMF) has announced that it estimates an increase by 0.4 percent in Turkey's gross domestic product (GDP) in 2012, while foreseeing a shrink in the fourth quarter compared to same period of previous year. Turkey's growth rate in 2011 is estimated to be 8.3% according to prospects in a report prepared by IMF for G-20 meeting held on January 19-20, 2012. Last month the IMF cut its forecast for Turkey's growth rate for 2012 to 2.2 percent.