Pro-Turkish protestors hold Turish national flags as they take part in a demonstration in Hamburg, April 10, 2016.

Turkey’s current account deficit, long regarded as a weak point in the economy, narrowed more than expected in February as lower oil prices reduced the country’s energy import bill.

The deficit fell to $1.785 billion in February from $2.338 billion in January, the central bank data showed on Monday. The deficit was lower than a Reuters poll forecast of $2.2 billion.

Turkey is largely dependent on imports for its growing energy needs. In 2015 the country’s current account deficit was $32.192 billion.

Analysts expect political tensions with Moscow and domestic security risks to hit tourism revenues, adding around $5 billion to the deficit this year.

“The deficit is unlikely to improve from here on, but equally it should remain fairly small by recent standards,” said William Jackson, an economist at Capital Economics.

“This backdrop may provide the central bank with confidence to lower interest rates – we expect an additional 25 basis point cut in the overnight lending rate this month.”

The bank cut the upper band of its interest rate “corridor” last month, prompting concern it was yielding to political pressure. President Recep Tayyip Erdogan has repeatedly railed against the high domestic cost of borrowing, equating high interest rates with “treason”.

Investors are also concerned over the uncertain future of Central Bank Governor Erdem Basci. Markets are waiting to see whether he is reappointed for another five-year term after April 19.

The lira firmed to 2.8390 against the dollar by 0930 GMT from 2.8455 on Friday.

The main share index edged up 0.94 percent to 83,279.47 points, slightly outperforming its emerging market peers which were up 0.55 percent.

The benchmark 10-year government bond yield rose to 9.98 percent from 9.96 percent at Friday’s close.

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