Turkey’s Faster-Than-Expected 8.2% Growth Defies Basci: Economy
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Turkey’s economy expanded a faster-than-expected 8.2 percent in the third quarter, while the 12-month current-account deficit climbed to a record, defying central-bank attempts to engineer a slowdown and narrow the gap.
The current-account gap in October was $4.2 billion, taking the 12-month cumulative deficit to $78.6 billion, the central bank in Ankara said today. That’s about 10 percent of gross domestic product, which expanded for an eighth consecutive quarter in the three months to September. The pace of growth in the third quarter was exceeded only by China among the Group of 20 major economies.