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ISTANBUL - The current (accounts) deficit is not giving an alarm, said Hugh Bredenkamp, the representative of the International Monetary Fund (IMF) in Turkey, on Wednesday.
Replying questions of reporters, Bredenkamp noted that current (accounts) deficit risk can be managed by macro-economic policies in the long term.
Also, structural reforms should be implemented and domestic savings should be increased in order to solve this problem, he indicated.
Bredenkamp said, "there is an increase in direct foreign investments. And, the short-term finance is replaced with long-term finance. Thus, there is no rise in debt stock. And this gives us time to strengthen the policies and implement structural reforms," when asked about the possibility that the current (accounts) deficit climbs to 30 billion USD and reaches 8 percent of the gross domestic product.