ANKA Review
Unable to generate enough foreign exchange earnings to meet imports, Turkey is increasingly dependent on inflows of foreign capital in order to finance a growing current account deficit.
A widening gap between forex income and expenditures heralds difficulties for Turkey in the period ahead, as inflows of foreign capital slow down.
Earns $100, spends $129
During the first four months of the year Turkey secured $57.96bn worth of foreign exchange earnings of which $47.36bn through exports.
However, over the same period it spent $74.85bn
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