Turkey's current account posts $5.06B gap in April

Turkey's current account balance posted a $5.06 billion gap in April, widening from a $469 million deficit in the same month last year, the Turkish Central Bank announced on Friday.

According to the balance of payments figures released by the bank, the country's 12-month rolling deficit totaled $3.3 billion.

The figure beat market expectation of $4.1 billion deficit in the month as the coronavirus’ impact started to be felt in earnest in mid-March and April.

An Anadolu Agency survey on Thursday showed that a group of 16 economists' projections ranged from $2.2 billion to $5.2 billion for the fourth month of this year.

The survey also revealed the end-2020 current account balance is forecast to register a $10.9 billion deficit.