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Turkey’s February current account deficit revised to $3.76 billion

ISTANBUL (Reuters) – Turkey’s central bank revised its February current account deficit figure to $3.760 billion, from the $3.687 billion announced on Thursday, to include the insurance services sector, the bank said yesterday.

The $73 million revision also boosted Turkey’s January-February current account deficit to $7.746 billion from a previously announced $7.673 billion.

The February revision pushed the deficit beyond the $3.6 billion forecast in a Reuters poll, attributed mostly to rising commodity and fuel prices.

The revised February current account figures showed the gap growing 19 percent year-on-year from $3.154 billion in February of 2007. In January, the current account deficit was $3.934 billion.

Data from the Turkish Statistics Institute at the end of last month showed the trade deficit, which is a major component of the current account deficit, widened 32 percent to $4.927 billion in February.

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Tougher times for borrowers
Fitch sees higher mortgage risk
Turk pension reform to be passed next week
Turkey’s February current account deficit revised to $3.76 billion

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