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.