Turkish contractors sending money home and record numbers of tourists lifted foreign inflows into Turkey in August, limiting an increase in the current-account deficit once seen as the economy’s biggest vulnerability.
The gap in the current-account, the broadest measure of trade in goods and services, widened to $2.8 billion from $2.4 billion a year earlier, less than the median forecast of $3.1 billion in a Bloomberg survey of 12 economists. August income from tourism and construction companies abroad totaled $4 billion, the highest level in at least five years, according to a Bloomberg calculation based on data Turkey’s central bank published on its website today
Read the details of the news on Bloomberg.