Skip to main content

Turkey reports account surplus amid fiscal policy changes

Turkish bonds may also become more attractive, according to a top bank, as Turkey’s new economic leaders raise interest rates and end unpopular policies.
This photograph taken on June 9, 2023, shows the Central Bank of Turkey, in Ankara.

Turkey's current account recorded a surplus in September and its bonds are due for a comeback next year, according to reports on Monday, indicating that Ankara’s return to economic orthodoxy may be paying off.

The account had a surplus of $1.9 billion in September, Bloomberg reported, citing data from the Turkish Central Bank. The figure is significantly higher than the median forecast of $1.4 billion from the outlet’s survey.

Turkey revised its deficit for August to $357 million. The bank previously said it recorded a $619 million deficit in August, down from a whopping $5.5 billion in July, according to Turkish media reports.

A current account is a measure of a country’s transactions with the rest of the world, including net trade and net earnings on foreign investments.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 per year.