Turkey’s current account balance registered a deficit of $4.6 billion in August compared to 3.3 billion surplus in the same period of 2019, the country’s Central Bank said on Monday.
CURRENT ACCOUNT BALANCE IN JULY SAW A DEFICIT OF $1.8 BILLION
Bringing 12-month rolling deficit to $23.2 billion as of this August, this development is mainly driven by the net outflow of $5.3 billion in the good deficit increasing by $3.9 billion.
Also, the net inflow of 1.1 billion in services item decreased by $4.6 billion compared to the same month of the previous year, the bank said.
The current account balance, excluding gold and energy, indicated $973 million surplus, in comparison to $6.24 billion surplus observed in the same month of the previous year.
The year-end current account balance is forecast to register a gap of $28.6 billion.