World Economy

Turkey Current A/C Deficit Shrinks

Turkey Current A/C Deficit ShrinksTurkey Current A/C Deficit Shrinks

Turkey’s current account deficit narrowed for a ninth month in April as the cost of imported energy fell, Bloomberg reported. The shortfall in the current account, the broadest measure of trade in goods and services, narrowed to $2.96 billion in April from $3.86 billion a year earlier, Turkey’s central bank said in a statement. The median estimate in a Bloomberg survey of 13 analysts called for a $3.4 billion gap. The current account deficit is expected to widen to 4.7% of gross domestic product at the end the year from around 4.5% in 2015, according to estimates compiled by Bloomberg.