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UPDATE 1-Turkey revises down growth forecasts for 2012, 2013

Tuesday, 9 Oct 2012 | 4:22 AM ET

(Adds forecasts for c/a deficit, exports)

ANKARA, Oct 9 (Reuters) - Turkey's government revised down its growth forecasts for this year and next on Tuesday but stuck to its expectation that the economy would expand at 5 percent in 2014.

Announcing the government's medium-term programme for 2012-2015, Deputy Prime Minister Ali Babacan said the economy was expected to grow 3.2 percent this year, below its forecast of 4 percent made a year ago.

It also cut the forecast for next year's growth to 4 percent from 5 percent.

Babacan said the country's current account deficit was expected to fall from 7.3 percent of GDP this year to 7.1 percent in 2013, 6.9 percent in 2014 and 6.5 percent in 2015.

Exports were seen growing to $187.1 billion by 2015 from $149.5 billion this year, Babacan said, while the budget deficit was expected to fall to 1.8 percent of GDP by 2015 from 2.3 percent this year.

(Reporting by Ozge Ozbilgin, Writing by Seda Sezer, Editing by Nick Tattersall)

((seda.sezer@thomsonreuters.com)(+90 212 350 7051)(Reuters Messaging: seda.sezer@thomsonreuters.com))

Keywords: TURKEY ECONOMY/