6/15/2009

Turkey's current account deficit down in April

Haber Turk - The Central Bank of Turkey has announced the balance of payment figures in April and said the current account deficit was down 76.1 percent in April 2009 compared with April 2008. Turkey's current account deficit dropped from USD 5.1 billion to USD 1.2 billion during the period in question, whereas the foreign trade deficit decreased 71 percent in April 2009 year-on-year to USD 1.4 billion. The bank announced that Turkey's net revenues were up 78.2 percent to USD 727 million in this period, while its net expenditures were down 6.8 percent to USD 604 million between April 2008 and April 2009. In addition, the Central Bank said Turkey's current account deficit was down 84.8 percent in the first four months of 2009 compared with the same period in 2008, falling from USD 17.4 to 2.6 billion.