Site icon Turkish Minute

Turkey posted $1.23 billion current account deficit in February: central bank

A teller holds Turkish lira banknotes at a currency exchange office in Istanbul on August 13, 2018. Turkey's troubled lira tumbled on August 13 to fresh record lows against the euro and dollar, piling pressure on stock markets on fears the country's crisis could spill over into the world economy. / AFP PHOTO / Yasin AKGUL

Turkey’s central bank said on Monday the country’s current account deficit in February narrowed to $1.23 billion.

The figure is more than a Reuters forecast for a deficit of $0.99 billion.

In January, the current account deficit was $1.613 billion. In 2019 Turkey’s current account surplus was $1.674 billion.

The deficit was $117 million in February 2019, said the central bank.

“This development is mainly attributable to $1.17 billion increase in the goods deficit recording net outflow of $1.9 billion and $222 million increase in primary income deficit to $729 million,” the bank said.

Liked it? Take a second to support Turkish Minute on Patreon!
Exit mobile version