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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.
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