Turkiye's current account deficit in November to read $2.2B

ISTANBUL

Turkiye’s current account balance for November is expected to post a deficit of $2.2 billion, according to an Anadolu Agency survey done on Friday.

The forecasts of a group of 15 economists ranged between $500 million and $3 billion.

The Turkish Central Bank will release the monthly figures for the balance of payments next Tuesday.

In October, the current account balance posted a $3.1 billion surplus, bringing the 12-month rolling deficit to $15.4 billion.

Treasury and Finance Minister Nureddin Nebati said October’s figure was Turkiye’s highest monthly surplus in the last three years.

The 12-month rolling deficit was also significantly down from $35.6 billion in October 2020, he also said.

Meanwhile, the survey showed the end-2021 current account balance is forecast to see a deficit of $14.7 billion, with the lowest estimate at $10 billion, and the highest at $16 billion.

*Writing by Aysu Bicer