EU axes Turkish growth forecasts citing political, financial risks - ECONOMICS:
"The European Commission has slashed its expectations for Turkey’s economic growth in 2014 and 2015, on the grounds of “the domestic political uncertainty and the possibility of a further sell-off in Turkish assets.”
“Growth was somewhat faster than expected in 2013, but the outlook for economic activity over the next two years has deteriorated against the background of recent developments,” the Commission’s “Winter Forecast 2014” report stated.
The report projected that the country would grow 2.5 percent this year, 0.5 points below its previous forecast and 3.0 percent in 2015, trimming previous prediction by 0.8 points."
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