Bloomberg News

Turkey Current Account Gap Narrowed to $6.6 Billion in December

February 13, 2012

Feb. 13 (Bloomberg) -- Turkey’s current-account gap narrowed for the second-straight month on an annual basis in December, bolstering the government’s argument that the worst is over for a deficit that weakened the lira the most among global currencies last year.

The deficit was $6.6 billion, compared with $7.5 billion in December 2010, the central bank in Ankara said on its website today. The figure missed the median estimate of $6.5 billion in a Bloomberg survey of nine economists. The deficit was $5.2 billion in November.

The gap had widened each month on an annual basis for two years prior to November’s reading.

The deficit for the year was $77.1 billion liras, the central bank said.

To contact the reporter on this story: Ali Berat Meric in Ankara at americ@bloomberg.net

To contact the editor responsible for this story: Mark Bentley at mbentley3@bloomberg.net


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