ISTANBUL
The head of Turkish Central Bank forecast a positive growth as of the second quarter of 2012.
Erdem Basci said there could be a horizontal or a slight negative Gross Domestic Product (GDP) outlook in the first quarter of 2012 when compared with the last quarter of 2011.
"We think that growth will have a positive course as of the second quarter, and Turkey will continue to grow moderately," Basci said during a conference in Istanbul.
Basci said economist did want neither extreme fluctuation and valuable nor extreme invaluable real foreign exchange rates.
Turkey's inflation had a significant decrease thanks to firm financial policies and independence of the Central Bank, Basci said.
Basci said the inflation was slightly over 11 percent, but projections indicated a fall in the inflation figure.
"Our target is 5 percent. We aim to decrease the inflation to 5 percent and keep it at that rate in the following three years," Basci said.
Basci expressed thought that the year-end inflation could fall up to 6.5 percent in 2012, and said a one-digit inflation figure was possible in Turkey in May.
"The upcoming course will be important, and therefore we maintain our firm monetary policy as much as we can," Basci also said.
