Simsek: if Turkey grows four percent this year, it will be able to make a "soft landing"

ISTANBUL (A.A) – March 6, 2012 – Turkish Finance Minister Mehmet Simsek said that if Turkey grew four percent in 2012, it would be able to make a "soft landing". Speaking at a symposium on Tuesday, Simsek said that Turkey grew two times higher than the world economy in 2011. Noting that Turkey's macroeconomic balances recovered significantly, Simsek said that there was also a serious recovery in financing balances. Simsek said that if Turkey grew four percent in 2012, it would be able to make a "soft landing". What we mean by "soft landing" is that Turkey recorded a very strong growth in the past two years which was supported by domestic demand, however, there is a big current account deficit, and if Turkey's growth decreases from 8-9 percent to 4 percent, this would be a soft landing, said Simsek.