Pts. Ara 9th, 2019

Turkey:Economists expect $1.6B+ current account surplus

– Anadolu Agency survey finds current account surplus estimates for October vary between $1.3-$1.9B

By Murat Aslan

ISTANBUL (AA) – Turkey's current account balance is projected to post a surplus of $1.6 billion in October, an Anadolu Agency survey found on Monday.

The Turkish Central Bank is set to announce the country's current account balance for October on Wednesday.

The estimates of a group of 13 economists range between $1.3 billion and $1.9 billion.

The current account balance was $2.4 billion in September, while the 12-month current surplus was nearly $5.9 billion.

The country's new economic program, unveiled in September, forecast a current-account-surplus-to-GDP ratio of 0.1% for 2019.

In 2018, the current account balance posted a deficit of around $27.6 billion, improving from a nearly $47.5 billion deficit the previous year.

The figure was the lowest since 2009, while Turkey’s highest annual current account deficit over the last decade was seen in 2011, with $74.4 billion.

* Writing and contributions by Aysu Bicer from Ankara

By Jeyhun Aliyev

ANKARA (AA) – Turkey's President Recep Tayyip Erdogan said Monday the harsh stance of Israel was fanned by the West and some Arab nations.

Speaking at the Organization of Islamic Cooperation (OIC) meeting in Istanbul, Erdogan said he feels that Turkey is raising the lone voice against oppression in Jerusalem and Palestine.

Erdogan said that the imperialist approach of divide, disintegrate and rule continues in Islamic countries.

"Muslims, who make up about one-fourth of the world's population today, do not have, unfortunately, the political influence or the economic, social or cultural prowess," said Erdogan.

He noted that Turkey was classified in the very high development category in 2018 for the first time, posting a 0.806 value in the human development index.

Turkey ranked 59th among 189 countries and territories, the United Nations Development Program (UNDP) said in a report released Monday.