The central bank, which is battling to curb Turkey’s record current account deficit and slow an economy many analysts fear is close to overheating, says the measures it introduced are working.
“We anticipate growth close to zero in the second quarter compared with the first,” Basci told a conference at Pamukkale University in the western Turkish city of Denizli.
Turkey’s economy grew an annual 11 percent in the first quarter, and 1.4 percent on a seasonally adjusted quarterly basis.
The bank says the rate of growth is slowing and on Thursday held its policy rate at a record low of 6.25 percent, even signalling that it might loosen policy if debt crises in the euro zone and US worsened.
“There is nothing to worry about excessively. We are watching the situation carefully. We have made preparations for various scenarios,” Basci said.
A crisis in the euro zone did not look as close after Thursday’s decisions by European leaders on a rescue package for Greece, he added.
Turning to Turkey’s external shortfalls he said it would be beneficial if the public and private sector did not have open positions.
The current account deficit would start to improve from the fourth quarter, Basci said, adding that import growth had halted and exports would start to make a positive contribution to growth.
