Turkey saved 50 billion dollars due to low oil prices – Turkey, 10 August 2016

According to the report by financial analyst Ata Yatirim, Turkey saved 50 billion dollars in the import of oil in the past three years, due to low oil prices in world market.
Turkey is one of the largest beneficiaries of the crisis and the fall of crude oil prices since 2013 managed to decrease country’s total imports by about 50 billion dollars. Current account deficit, which corresponded to about 10 % of Gross Domestic Product (GDP) in 2011 will drop to 4.4 % in 2016.

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