Turkey's current account posts surplus after 3 years

By Muhammed Ali Gurtas

ANKARA (AA) - Turkey's current account balance showed a surplus in August, for the first time over the past three years, the Turkish Central Bank (CBRT) announced on Thursday.

According to the CBRT's balance of payments report, the country's current account surplus amounted to $2.59 billion in August, improving from $923 million deficit in same month last year.

In September 2015, when a current account surplus was last observed, Turkey's current account balance recorded a surplus of $218 million.

On Tuesday, an Anadolu Agency survey showed that a group of 14 economists forecast a surplus of $2.46 billion on average. Therefore, Thursday's figures exceeded the expectations.