Turkey's current account deficit expands by 65%

Spengler's predictions for the Turkish economy are quickly coming true. Turkey’s 2011 current account deficit increased by a substantial 65.3 percent from 2010 reaching $77.8 billion, an approximately $30.5 billion increase from the $46.6 billion last year . Meanwhile, December’s current account deficit registered at roughly $6.6 billion.The main reason behind the substantial current account gap