Turkey’s current account deficit seen at $39bn in 2020 ...Qatar

Turkey’s current account is expected to record a $39bn deficit in 2020, a Reuters poll showed yesterday, mainly due to a surge in the trade deficit and a pandemic-related downturn in tourism. The median poll response of 12 economists was for a deficit of $39bn in 2020, compared to $37.7bn in last month’s survey. Forecasts ranged between $37.8bn and $39.7bn. Ankara expected a deficit of $24.4bn, or 3.5% of GDP, in 2020, according to government estimates. Without the downturn in tourism due to the coronavirus pandemic and surging demand for gold, Turkey would have posted a surplus of $12.4bn. The current account deficit was mainly due to the trade deficit, which widened more than 69% in 2020

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