Posted by meb at April 11th, 2011
Turkeyâ€™s current-account deficit more than doubled in February over a year earlier, the 14th consecutive widening in a measure the Central Bank says it is trying to contain.
The deficit rose from $2.7 billion to $6.1 billion in the same month of 2010, the Central Bank in Ankara said Monday on its website. The median forecast in a Bloomberg survey of nine economists was for a gap of $6.3 billion.
The cumulative deficit for the 12 months through February was $54.8 billion, or about 7 percent of estimated gross domestic product. The governmentâ€™s medium-term plans forecast a gap of $42.2 billion, or 5.4 percent of GDP. (more…)