Turkey revises growth downwards, inflation upwards

ISTANBUL: Turkey revised its economic growth forecasts down to 3 percent from 4 percent for this year and down to 4 percent from 5 percent for 2016 in an update of its medium-term programme published in the Official Gazette at the weekend.

The inflation forecast was revised up to 7.6 percent from 6.3 percent for this year and up to 6.5 percent from 5 percent for next year, the data showed.