Foreign capital inflows into turkey remain strong

Despite record-low interest rates, international capital inflows to Turkey remain strong - a total of $684 million in foreign capital entered the country in April.

Net foreign capital inflows between January and April stood at $4.7 billion, corresponding to an annual rise of 12.6 percent, according to Treasury data released Tuesday.

The amount of foreign capital entering Turkey was at $470 million in January, $691 million in February and $2.8 billion in March, Anatolia news agency reported. Wealthy Gulf Arabs seeking a safe place to store their cash in March chose Turkey, according to various press reports in May, accounting for the month’s spike in capital inflow.

Property purchases account for around $300 million of the April figure, while the remaining $384 million went to other areas of the economy.

Source: HurriyetDailyNews.com