Turkey’s foreign trade deficit has surged beyond $45 billion so far this year, data showed on Thursday, as fallout from the pandemic extended the economy’s worst slump in President Recep Tayyip Erdogan’s nearly two decades in power. The sharp trade imbalance, including a jump of $5 billion in November alone, approached the $55 billion deficit logged in 2018, when a currency crisis marked the end of years of hot economic growth fueled by cheap foreign credit. Since mid-2018, year-on-year growth has averaged roughly 0.5% due to a roller-coaster of recession, strong recovery and another dee
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