Six puzzles of the Turkish economy - EMRE DELİVELİ:
"I have been burning a lot of brain cells of late on six puzzles of the Turkish economy. I have already made some way into solving some of them, while I am still baffled by others. I will simply state them today, with the hope of sharing my answers over the course of the next few weeks.
A significant part of Turkey’s large current account deficit has been financed by net errors and omissions (NEOs), which is basically an accounting term covering everything in the Balance of Payments that is not measured. This item amounted to $2 billion in July (that figure was later revised down to $1.6 billion), prompting many to speculate on the sources of these funds. What exactly are NEOs?"
'via Blog this'
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