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ANKARA, Sept 6 - Turkey is expected to cut its economic growth forecasts and raise that of inflation on Wednesday as it seeks to take a more orthodox and realistic policy path, which analysts say could test the patience of President Tayyip Erdogan.
After his May re-election, Erdogan - faced with deep economic strains and badly depleted forex reserves - named a new cabinet and central bank chief to undertake aggressive interest rate hikes and begin freeing up credit and forex markets.The economy is expected to slow through year-end - and ahead of nationwide municipal elections set for March next year - as stimulus tied to the May elections fades and as the policy rate hikes, to 25% from 8.5%, start to weigh.
With Erdogan's ruling AK Party seeking to reclaim big cities Istanbul and Ankara from the opposition in the March vote, some analysts say higher inflation and unemployment and lower growth could test the president's patience with the U-turn.
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