Turkey current account gap more than doubles to $2.9 billion in December


Turkey’s current account deficit more than doubled to $2.9 billion in December from the same month a year earlier.

The deficit increased by $1.7 billion, the central bank said on Friday. A Reuters poll of economists had predicted a gap of $3.05 billion. The bank said the deficit was largely attributable to an increase in imports.

The country posted a surplus of $1.67 billion for 2019. A currency crisis ripped through the economy the previous year, causing a slump in demand for imports, but Turks are now buying more imported goods after the central bank slashed interest rates and consumer confidence rose.



Please enter your comment!
Please enter your name here