The Kapali Carsi

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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