Bloomberg News

Babacan Says Domestic Borrowing to Reduce Foreign Finance Needs

November 22, 2012

External financing needs will be below target as govt succeeds in obtaining a larger percentage of borrowing at home, Deputy Prime Minister Ali Babacan tells the parliament in Ankara today. *External finance needs will be $6.1b this yr vs $6.5b target: Babacan *Debt-to-GDP ratio may be below 36% vs 37% target *Exports will rise 10.8% this year *Imports to contract 0.6 percent *Current-account deficit to be 7.3% of GDP *Monetary policy committee successful in reducing inflation and exchange rate volatility *Int’l confidence in Turkish markets increased after Fitch upgrade

To contact the reporters on this story: Ali Berat Meric in Ankara at americ@bloomberg.net; David Neylan in Ankara at dneylan1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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