Turkey's current deficit declines

According to data released by the Central Bank revealed on Wednesday, Turkey's current account deficit (CAD) registered at $48.9 billion in 2012. Commenting on the recent figures, Finance Minister Mehmet Simsek said cautious policies adopted by his ministry and the Banking Regulation and Supervision Agency (BDDK) were effective in bringing down the deficit in 2012. "We will focus on growing our economy," Simsek added.