Current account deficit figures out

turkish lira
Current account deficit figures out

The Central Bank of the Republic of Turkey (CBRT) on Friday announced current account deficit figures for April. In the January-April period, the current account deficit was recorded as $ 3.3 billion, while the country’s 12-month rolling deficit amounted to $8.6 billion. The data saw a fell to $1.3 billion in April from a $5.6-billion deficit in the same month last year. The ban held a Monetary Policy Committee meeting on Wednesday, deciding to keep the interest rates steady at 24 percent. “The recent data show that the economic rebalancing trend continues. While foreign demand remains relatively strong, economic activity is slowing down due to the tight financial conditions. The recovery in the current account balance is expected to continue.” it had said. Following the current account deficit data, Turkish lira lost value against dollar and euro.