Turkey's current account balance sees $1.8B gap in July

By Tuba Sahin

ANKARA (AA) - Turkey's current account balance registered a deficit of $1.8 billion in July, the Turkish Central Bank said on Friday.

The figure deteriorated from $1.9 billion surplus in July 2019 and down from $2.9 billion this June, the bank said.

Bringing 12-month rolling deficit to $14.9 billion as of this July, current account deficit mainly stemmed from outflow in services.

An Anadolu Agency survey on Thursday showed that economists had forecast a deficit of $1.9 billion.

Projections of a group of 24 economists ranged from $800 million to $2.8 billion for the month.

The survey also showed the end-2020 current account balance is expected to show a deficit of $23.6 billion.