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Turkey's current account deficit at 10-year-low

Turkey's current account deficit at 10-year-low
Central Bank says current account balance posts $27.6B deficit last year, improving from nearly $47.5B deficit in 2017

By Muhammed Ali Gurtas

ANKARA (AA) - Turkey's current account deficit fell to a 10-year-low in 2018, the country’s Central Bank announced on Thursday.

Last year, the current account balance posted a deficit of $27.6 billion, improving from a nearly $47.5 billion deficit in 2017.

The figure was the lowest since 2009, while the country's highest annual current account deficit over the last decade was seen in 2011, with $74.4 billion .

On a monthly basis, the balance showed a $1.4 billion deficit in December, after showing a surplus of $986 million for four consecutive months.

Thursday's figures also met expectations, as an Anadolu Agency survey on Tuesday showed that a group of 17 economists had forecast an annual deficit of $27.7 billion.

source: News Feed
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