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TURKEY: Trade Deficit Narrows, Turkey Poised to Be Removed from “Gray List"

TURKEY
  • Turkey’s trade deficit stood at $6.502bn (Est: -$6.50bn; Prior: -$9.92bn) in May, according to the Turkish Statistical Institute. Exports rose 11.3% y/y while imports fell 10.4% y/y.
  • Turkish households’ 12-month inflation expectations have declined 4.6ppts from the previous month to 71.5%, according to a survey by the central bank. Meanwhile, the real sector’s 12-month expectations rose from the previous month by 0.2ppts to 56.2%
  • The anti-money laundering watchdog Financial Action Task Force (FATF) will announce its decision on whether it’ll remove Turkey from its “gray list” today, according to Bloomberg. Bloomberg reported at the end of May that Turkey is poised to be removed from the list as early as this month following its moves to curb illicit money flows.
  • Next week, CPI data for June provides the highlight on the local slate. Year-on-year, prices are seen moderating from +75.45% y/y in May to +72.55% y/y.
     

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