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5.2 ​Current account dynamics
The expectation in a regular Reuters poll for Turkey’s year-end current account deficit has ​grown​ to $21.95bn, with sagging tourism revenues caused by the prolonged coronavirus (COVID-19) crisis a key factor.
5.3​ Capital flight dynamics
A Capital Economics ​tracker​ has suggested that EMs experienced net capital inflows in July for the first time since the coronavirus (COVID-19) crisis began—with Turkey a key exception.
“But even if Turkey’s crisis becomes more acute in the coming months, contagion to other EMs is likely to be more limited than in 2018,” Edward Glossop at Capital said.
33​ TURKEY Country Report​ September 2020 ​ ​www.intellinews.com