Turkey’s current account posts $5.06 bln gap in April

Look ma, someone knocks at the door

Turkey’s current account balance posted a $5.06 billion gap in April, widening from a $469 million deficit in the same month last year, the Turkish Central Bank announced on June 12.

According to the balance of payments figures released by the bank, the country’s 12-month rolling deficit totaled $3.3 billion.

The figure beat market expectation of $4.1 billion deficit in the month as the coronavirus’ impact started to be felt in earnest in mid-March and April.

An Anadolu Agency survey on June 11 showed that a group of 16 economists’ projections ranged from $2.2 billion to $5.2 billion for the fourth month of this year.

The survey also revealed the end-2020 current account balance is forecast to register a $10.9 billion deficit.

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