Turkey's current account deficit widens in Jan - Feb

Turkey's current account deficit increased by 956 million U.S. dollars in the first two months of this year compare to the same period in 2012, the central bank said in a report Thursday. It reached 10.9 billion dollars, the report said, attributing the surge to an increase in foreign trade deficit and a drop in net services income during the period. Turkey's foreign trade deficit rose by 844 million dollars to 11.5 billion dollars. Its net services income, meanwhile, saw a 63 million-dollar decrease to 1.3 billion dollars. Current account deficit shrank to a record low of 48.9 billion dollars in 2012 due to a slowdown in the economy and booming export. Analysts anticipate a higher current account deficit in the coming months amid an expected inflow of more capital and rising domestic demand.