Current Account Deficit Was Below Expectations In September

Current Account Deficit Was Below Expectations In September Central Bank of the Republic of Turkey, shared his balance of payments statistics for the month of September. Accordingly, the current account deficit was below expectations in September. Central Bank of the Republic of Turkey (CBRT), in September announced the balance of payments statistics. Accordingly, the balance of payments had a deficit of $ 2.36 billion in September. The expectation of economists was that the current account deficit would realize as $ 2.63 billion in September. Data for September showed that the 12-month current account deficit reached $ 27.5 billion. The current account balance, excluding gold and energy, gave a surplus of $ 3.2 billion in September. In September 2019, the core current account balance was recorded as an excess of $ 6.05 billion. Under the services balance, net revenues from the travel item fell by $ 1.92 billion compared to the same month of the previous year, to $ 1.56 billion. Portfolio investments had an outflow of 607 million dollars in September. When the sub-items are analyzed, it was observed that non-residents made net sales of 322 million dollars in the stock market and 424 million dollars in the government domestic debt securities market. Official reserves declined by $ 3.6 billion in September.