Turkey: no fixing that Achilles heel | beyondbrics:
"This week, Turkey reported better than expected growth figures. But Thursday, it came out with worse than expected current account figures – a $5.8bn deficit for July, compared with an expected $5.5bn or so.
So the phenomenon widely seen as the Turkish economy’s biggest Achilles heel – the deficit that makes the country deeply reliant on foreign funds – is still stubbornly large. This at a time when foreign resources are expected to be in much less bountiful supply, due, among other factors, to the prospect of US Federal Reserve tapering its monthly bond buying programme.
Timothy Ash of Standard Bank teases out a common message from the deficit data and Tuesday’s growth figures, which featured strong domestic demand and declining net exports."
'via Blog this'
No comments:
Post a Comment