Turkey:Economists expect $1.6B+ current account surplus

ISTANBUL

Turkey's current account balance is projected to post a surplus of $1.6 billion in October, an Anadolu Agency survey found on Monday.

The Turkish Central Bank is set to announce the country's current account balance for October on Wednesday.

The estimates of a group of 13 economists range between $1.3 billion and $1.9 billion.

The current account balance was $2.4 billion in September, while the 12-month current surplus was nearly $5.9 billion.

The country's new economic program, unveiled in September, forecast a current-account-surplus-to-GDP ratio of 0.1% for 2019.

In 2018, the current account balance posted a deficit of around $27.6 billion, improving from a nearly $47.5 billion deficit the previous year.

The figure was the lowest since 2009, while Turkey’s highest annual current account deficit over the last decade was seen in 2011, with $74.4 billion.

* Writing and contributions by Aysu Bicer from Ankara