A view of the Bosphorus bridge that links Istanbul's Asian and European sides September 3, 2013. REUTERS/Osman Orsal
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Turkey's capital inflows of unknown origin last year reached the highest level since the central bank began keeping records in 1975, spurring fears that the government's way of financing the current-account gap is unsustainable.A boost in the foreign trade imbalance was key, but as the gap narrowed, financing from mystery funds rose.The median estimate in a Bloomberg survey was for a $5 billion shortfall.The gap had narrowed at an annual rate of about 59 percent and 84 percent in November and October, respectively, the central bank said Thursday. Mystery flows are called net errors because the central bank can't tell where exactly the money came from and how it entered the country.
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