Thursday, Feb 25

Turkish economists expect at least $1.6B current account surplus

The estimates of a group of 13 economists range between $1.3 billion and $1.9 billion.
09.12.2019 - 12:57

Turkey's current account balance is projected to post a surplus of $1.6 billion in October, an Anadolu Agency survey found on Monday.

The Turkish Central Bank is set to announce the country's current account balance for October on Wednesday.

THE NEW PROGRAM UNVEILED IN SEPTEMBER

The current account balance was $2.4 billion in September, while the 12-month current surplus was nearly $5.9 billion. The country's new economic program, unveiled in September, forecast a current-account-surplus-to-GDP ratio of 0.1% for 2019.

In 2018, the current account balance posted a deficit of around $27.6 billion, improving from a nearly $47.5 billion deficit the previous year.

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