Working, working…
The Central Bank of Turkey’s policies, that is… The April trade deficit, at USD 9.1bn, was significantly lower than expectations of around USD 10bn, on the back of both stronger-than-expected exports and especially lower-than-expected imports:
So are the Central Bank’s policies starting to work their magic? Maybe, but it is too early to say. After all, we still got a record-level April imports and deficit:
And the trade deficit is still growing:
So I’ll listen to the CBT for once, and wait & see:)…
BTW, this figure should translate into a current account deficit in the order of USD 8-8.5bn, in case you are interested…
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