Turkish Feb current account deficit $4.15 billion, less than forecast
The government’s medium-term plan anticipates a $40 billion current account deficit this year, or 4.3 percent of gross domestic product.
ISTANBUL: Turkey’s current account deficit stood at $4.152 billion in February, official data showed on Wednesday, below a forecast of $4.2 billion in a Reuters poll and down from a deficit of $7.039 billion a month earlier.
The wide deficit, along with double-digit inflation, are major worries for investors. Concerns about the economic outlook have helped push the lira to record lows in recent days. It stood at 4.1479 against the dollar after the data, easing slightly.
The current account deficit was sharply wider than the $2.566 billion in February last year.
A Reuters poll of 12 economists, conducted before the data was released, forecast a 2018 deficit of $51.5 billion, up from $47.17 billion a year earlier. The government’s medium-term plan anticipates a $40 billion current account deficit this year, or 4.3 percent of gross domestic product.