Thanks to exports rising 5.7 percent to $92.7 billion in the January to July period, and regulatory measures introduced to curb loan growth, Turkey has improved its current account balance. "We expect a meaningful correction in the current account to GDP ratio from 7.9 percent in 2013 to 6.1 percent in 2014, and to record a further improvement to 5.6 percent in 2015," says Serkan OEzcan, Assistant General Manager in charge of Economic Research and Strategic Planning at Odeabank. "However, risks to our current account expectations are tilted to the upside due to the recent escalation in geopolitical concerns and its reflection on oil prices."
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