August 13, 2012 / 7:47 AM / 5 years ago

Turkey's soft-landing continues, c/a data shows-finance minister

ISTANBUL, Aug 13 (Reuters) - The Turkish economy is continuing to go through a soft-landing process, Finance Minister Mehmet Simsek said on Monday after the release of current account data for June.

The current account deficit stood at an annualised $63.5 billion in June, down from a peak of $78.5 billion in October 2011 and below a year-end target of $65 billion, Simsek told Reuters in emailed comments.

Simsek added that positive developments in the financing of the current account deficit were also continuing with increased foreign direct investments and long term loans. (Reporting by Orhan Coskun, Writing by Ece Toksabay)

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