Turkey: Economists Expect $4.3B Current Account Deficit

09.07.2020 18:42

May estimates by economists surveyed by Anadolu Agency range between $3.2B and $5.6B.

Turkey's current account balance is projected to post a deficit of $4.3 billion in May, an Anadolu Agency survey found on Thursday.

The estimates of a group of 14 economists range between $3.2 billion and $5.6 billion, with May's balance of payments figures set to be announced by Turkey's Central Bank on Monday.

The end-2020 current account balance is forecast to register a deficit of $17.5 billion.

In April, Turkey's current account balance posted a deficit of nearly $5.6 billion.

In a separate survey, Turkey's unadjusted industrial production index was predicted to have fallen 28.7% in May.

Estimates for the fall in the unadjusted industrial production index in May ranged between 15.8% and 40%.

They also estimated that the calendar-adjusted industrial production index would drop 19.7% in May on an annual basis.

The term "calendar-adjusted" is used to refer to data where calendar and holiday-originating effects are removed.

Writing by Aysu Bicer from Ankara -