Turkey sees c/a gap as forecast

ISTANBUL (Reuters) – Turkish Deputy Prime Minister Nazim Ekren said yesterday the 2007 current account deficit was expected to be at official forecast levels assuming no major problems with the oil price or changes in economic conditions. Turkey has set a revised forecast of $36.4 billion for this year’s current account deficit, which is a major weak point in the country’s fast-growing economy. Ekren said the rise in oil prices was manageable. «Looking at the average rise in the year, if there’s not a major setback (in the oil price), if there’s not a change in the economic situation, we think the current account deficit will remain at the forecast levels,» he told reporters. On Thursday, official data showed the deficit came in at a higher-than-expected $1.85 billion in September while the August deficit was also revised sharply higher to $2.05 billion.