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Turkey’s gross domestic product grew 8.8 percent in the year’s second quarter, compared to the same period last year, above market consensus of 6.8 percent, according to data published by TurkStat – Turkey’s statistics agency.
Meanwhile, the current account deficit recovered to $5.3 billion in July, from $7 billion a month earlier, according to figures published by Turkey’s central bank.
The foreign trade balance was the key contributor to the deficit, meanwhile tourism revenues were the key financing source.
September 12, 2011
SOURCE: Hürriyet Daily News
