Turkey to post $39B current account deficit: Survey

By Murat Aslan

ISTANBUL (AA) - Turkey’s current account balance is expected to post an annual deficit of $39 billion, according to an Anadolu Agency survey on Friday.

The estimates of a group of 13 economists range between $37.8 billion and $41.3 billion.

The Turkish Central Bank will release the balance of payments figures next Friday.

The survey predicted the current account balance will also show a deficit of $3.6 billion in December, with estimates ranging between $2.8 billion and $6 billion.

In November, the current account posted a $4.63 billion deficit.

Their end-2021 expectation is a deficit of $24.2 billion.

- Industrial production

According to another survey on Friday, Turkey's calendar-adjusted industrial production index for December is expected to rise by 8.8% on a yearly basis.

The estimates of a group of eight economists ranged between 6.5% and 11.5%.

Meanwhile, the experts estimated that the unadjusted industrial production index for December would increase by 9.2% year-on-year.

In November, the adjusted and unadjusted industrial production indices were up 11% and 1.3%, respectively.

The term "calendar-adjusted" is used to refer to data where calendar and holiday-originated effects are removed.

The Turkish Statistical Institute is due to release official figures next Friday.