Turkish economy expected to grow %3 in 2012

The International Monetary Fund (IMF) said on Monday that the Turkish economy was expected to grow at a more measured pace of 3% in 2012, despite weak growth in the EU. IMF, as Anatolia news agency reports, released a concluding statement of the IMF mission for the 2012 Article IV consultation for Turkey. "After two years of rapid growth well above trend, the economy has slowed significantly, helping to unwind imbalances. Encouragingly, Turkey's growth is expected to remain positive and become more balanced this year, despite weak activity in major trading partners," it said. "Macroeconomic policies have been supportive of the soft landing of the economy, but the authorities must stand ready to adjust policies if the trend in disinflation and the external deficit reduction starts to unwind. In the medium term, better macroeconomic coordination is needed to improve the policy mix and reduce volatility," the statement said.