Turkey: Year-end Current Deficit Expectation Drops to US$ 71,9 billion

Turkey’s year-end current account deficit expectation dropped to 71.9 billion USD, according to a survey of the Central Bank. The Central Bank of Turkey made public results of its expectation survey for the first term of September, and forecast the year-end current account deficit as 71.9 billion USD.

Current account deficit expectation was 50.9 billion USD in the first expectation survey of March, and it climbed to 61 billion USD in May’s second survey, and rose over 70 billion USD in the first survey of August.

The survey forecast year-end inflation around 7.24 percent. It was 7.21 percent in the previous survey.

Also, year-end growth projection was down to 5.9 percent from 6 percent in this survey.According to the survey, year-end USD expectation rose to 1.7400 Turkish liras (TL) from 1.7200 TL.

Central Bank’s survey of expectations is conducted on experts and decision makers from financial and real sectors and professionals, pertaining to consumer price inflation, interest rates, exchange rate, current account balance and growth rate.

8 September 2011
SOURCE: CUMHURIYET.COM