Governor of Central Bank Erdem Başçı announced the current account deficit in Turkey was expected to further improve next year, following a shrink towards end of 2015.
Başçı has delivered a presentation in Budapest at the Conference of the Hungarian Economic Association and the Magyar Nemzeti Bank, on Sep. 30.
Having underlined that the macroprudential policies have improved both the pace and the composition of credit, Başçı told, “Macroprudential policies have been essential in containing the current account deficit.”
“The improvement in the current account balance is expected to continue in the forthcoming period. The current deficit will shrink toward the end of 2015, and then improve in further next year. The improvement in current deficit balance is expected to become evident and continue throughout the year” Başçı added.