More needs to be done to hit 2 percent G20 additional growth target - Turkey's deputy PM

ANKARA (Reuters) - More needs to be done to achieve an additional 2 percent increase in growth over five years as targeted by G20 countries at a summit last year in Australia, Turkey's Deputy Prime Minister Cevdet Yilmaz said on Sunday. Turkey holds the G20 presidency this year and has just finished hosting a meeting of finance ministers in the capital Ankara, from where Yilmaz was speaking. Yilmaz, who is Turkey's deputy prime minister in charge of the economy, also said that an interest rate rise by the U.S. Federal Reserve in the coming months would not have a fundamental impact on emerging markets, describing the expected move as "normalisation". However, he said that preparations were being made for different scenarios for U.S. Federal Reserve policy. Emerging markets, including Turkey, have been hit by capital outflows on speculation about when the United States will increase interest rates, with yield-hungry investors moving money out of riskier investments. In recent months domestic political uncertainty has also spooked investors, exacerbating the sell-off in emerging markets. (Reporting by Dasha Afanasieva and Orhan Coskun; Writing by Jonny Hogg; Editing by David Goodman)