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Turkish Budget, Growth Goals Endangered Due to Europe Crisis

Aug. 9 (Bloomberg) -- Turkey will miss a target for the budget deficit and the country’s economic growth may fall short of a four percent goal due to the crisis in Europe, Deputy Prime Minister Ali Babacan said.

The budget shortfall will exceed the government’s target of 1.5 percent of gross domestic product because of an above-expected pay rise for public sector workers and lower revenue, Babacan said in a televised interview with NTV television today.

There will be no change to Turkey’s commitment to financial discipline and debt dynamics won’t be affected, Babacan said.

The government’s growth target could still be reached, though exceeding it might be difficult, he said.

To contact the reporter on this story: Mark Bentley in Istanbul at mbentley3@bloomberg.net

To contact the editor responsible for this story: Riad Hamade at rhamade@bloomberg.net

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