Survey: Türkiye to report current account surplus of USD2.72 billion for September
Date
11/10/2024 4:29:39 AM
(MENAFN) Türkiye is projected to report a current account surplus of USD2.72 billion for September, according to an Anadolu survey. The estimates from a group of 10 economists ranged from a surplus of USD800 million to as much as USD3.3 billion. This follows a surplus of USD4.3 billion in August, which indicates a slight decrease in the balance of payments for September.
The Turkish Central bank will release its official balance of payments data on Tuesday, providing a clearer picture of Türkiye's external accounts. The data will offer insight into how the country’s trade balance and financial flows have evolved during the month, especially in light of recent economic policies and global market trends.
While September's surplus suggests positive trends for the country’s external balance in the short term, the overall outlook for 2024 remains more challenging. Economists predict that Türkiye will post a significant current account deficit by the end of the year, with estimates ranging from USD6 billion to USD17 billion. The expected deficit stands at USD11.87 billion, which reflects concerns over rising imports and other external financial pressures.
These projections underscore the ongoing challenges Türkiye faces in managing its trade and capital flows. The anticipated deficit for 2024 highlights the need for continued economic reforms and strategic policies to maintain stability and sustainable growth, particularly in terms of foreign exchange reserves and external debt management.
MENAFN10112024000045015839ID1108869288
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.