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UPDATE 1-IMF sees Turkey growing 3 pct in 2012, warns on c/a gap

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ISTANBUL, Oct 8 (Reuters) - The Turkish economy is expected to grow at a more measured pace of 3 percent in 2012 despite weak growth in the European Union, while the current account deficit is likely to decline to 7.5 percent of GDP, the International Monetary Fund said on Monday.

"Turkey continues to face some considerable risks given the large current account deficit and the volatile nature of global capital flows in an uncertain external environment," the Fund said in the concluding statement of its mission to Turkey for Article IV consultations.

It said that beyond 2012, Turkey was in a good position to return to its long-term trend growth rate of around four percent.

The Fund also said it was important that the government's medium-term fiscal plan for 2013-15 sets strengthening the budget structure as a key objective.

(Reporting by Seda Sezer; Writing by Daren Butler; Editing by Nick Tattersall)

((daren.butler@thomsonreuters.com)(+90-212-350 7122)(Reuters Messaging: daren.butler.thomsonreuters.com@reuters.net))

Keywords: TURKEY IMF/STATEMENT