Update: Turkey Central Bank Survey Sees End-2010 Cpı +8.60%
The annual rate of inflation in Turkey is predicted to rise to 8.60% at the end of 2010, up from the 8.57% previously estimated, a survey by the country's central bank showed Friday.
The central bank's twice-monthly poll of business leaderseconomists also put May's expected monthly inflation rate at 0.61%, lower than the previous estimate of 0.65%.
The latest official data showed consumer prices rising 0.60% on the month in April, taking the annual inflation rate to 10.19%.
Turkey's gross domestic product this year is expected to grow 4.8%, the survey showed, up from the previous forecast of 4.6%. In the fourth quarter of 2009, Turkish GDP grew by an annual rate of 6% after a 2.9% contraction in the third quarter.
GDP contracted 4.7% in 2009 as a whole.
The survey also showed that market participants expect the current-account deficit to widen to $28.75 billion in 2010 from the previous forecast of $28.13 billion.
In 2009 as a whole, the current account deficit was $13.85 billion, narrower than the $41.95 billion shortfall the previous year.
The survey forecast that the Turkish lira will trade at TRY1.5613 against the dollar by the end of the year, compared with a previous forecast of TRY1.5410. It currently trades around TRY1.5840.
(YC-YC-E-ENG)