Caglayan predicts 5 pct growth in 2012

Economy Minister Zafer Caglayan predicted yesterday that his country would grow nearly five percent in 2012 despite an estimated 4 percent in the country's medium-term program and a much lower IMF prospect of 2.2 percent. "I believe that Turkey can achieve nearly 5 percent growth rate in 2012 following a powerful 9.2 percent in 2010 and 8.5 percent last year," Caglayan told the tenth edition of the Istanbul Forum, an international platform designed to bring together Turkish and international business leaders and bureaucrats. Caglayan said Turkey could have made significant contribution to the European Union economy if it were a member, adding that Turkey needs to grow at least 5 percent every year to become one of the top 10 economies in the world by 2023.