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Trade Deficit Widens in July

TURKEY
  • Turkey’s trade deficit grew to $12.2bln (Est: -$12.4bln) in July from a deficit of -$5.16bln in June, according to the statistics office. Exports rose 8.3% y/y to $20.1bln while imports rose 10.5% y/y to $32.3bln.
  • Turkey’s Economic Confidence indicator declined to 94.1 in August from 99.3 the month prior.
  • President Erdogan is to visit Russia "soon" for talks with Vladimir Putin on reviving a deal to ship grain across the Black Sea, his party spokesman said Monday as per Hurriyet. The meeting will take place in Russia's resort city of Sochi, Erdogan’s ruling party spokesman told reporters, adding that Turkey hoped to avert a looming "food crisis". A Kremlin spokesman told reporters that a meeting was being prepared "intensively".
  • Real estate experts say reduced loans following new regulation to curb exorbitant house prices will deter the supply of new homes, which will boost rents further, Dunya report.

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