Turkey's current account gap shrinks in June

By Dilara Hamit

ANKARA (AA) - Turkey’s current account balance posted $548 million deficit this June, the nation’s Central Bank said on Friday.

The bank’s latest balance of payments figures revealed that Turkey’s current account gap in June fell by nearly 82% year-on-year, improving from around $3 billion deficit in same month last year.

Turkey’s 12-month rolling surplus totaled $538 million, according to the bank.

An Anadolu Agency survey on Wednesday showed that economists had forecast a deficit of $376 million.

Expectations of a group of 17 economists ranged from a $150 million deficit to a $792 million deficit for the sixth month of 2019.

The survey also showed the end-2019 current account balance is expected to show a deficit of $7.1 billion, with estimates ranging from $2 billion surplus to $11.5 billion deficit.