Turkey Set for Rare Economic Milestone: October Surplus Expected

Economists predict Turkey will post a rare current account surplus this October. A survey of 15 economists forecasts a surplus of approximately $574 million. The current account measures the flow of goods, services, and investments into and out of a country. A surplus means the nation earned more from these flows than it spent. Turkey has typically run deficits, making a surplus a significant shift. This expected result is largely linked to a major change in energy costs. Turkey's bill for imported energy has fallen sharply. This is due to a new natural gas deal with Russia and lower global energy prices. The data will be officially released by the Turkish Central Bank on December 11.