TCMB taraf\u0131ndan bug\u00fcn yay\u0131nlanan, Ocak \u2013 May\u0131s d\u00f6nemi \u00d6demeler Dengesi raporuna g\u00f6re, Cari i\u015flemler a\u00e7\u0131\u011f\u0131 ilk be\u015f ayda 31 920 milyar $\u2019a ula\u015ft\u0131. 2012 senesine g\u00f6re, be\u015f ayl\u0131k ihracat art\u0131\u015f\u0131 % 3,9 olurken, ithalat art\u0131\u015f\u0131 % 7,9 olarak ger\u00e7ekle\u015fti. \u00d6demeler dengesi finans hesab\u0131 sermaye giri\u015fi\u00a0 ise, Ocak \u2013 May\u0131s d\u00f6neminde 45 244 milyar dolara ula\u015ft\u0131. Bu rakam\u0131n 2 980 milyar $\u2019\u0131\u00a0 Do\u011frudan Yat\u0131r\u0131mlar, 1 034 milyar $\u2019\u0131 hisse senedi, 15 759 milyar $\u2019\u0131 ise tahvil\u00a0 – bono giri\u015fi olarak ger\u00e7ekle\u015fmi\u015f durumda. \u0130lk be\u015f\u00a0 ayda bankalar 16 871 milyar $ kredi bor\u00e7lanmas\u0131 ger\u00e7ekle\u015ftirdi. Yukar\u0131da ki tablo bize, Cari \u0130\u015flemler a\u00e7\u0131\u011f\u0131n\u0131n Orta Vadeli Program hedefleri ile uygun ger\u00e7ekle\u015fti\u011fini g\u00f6stermekle birlikte, a\u00e7\u0131\u011f\u0131n a\u011f\u0131rl\u0131kl\u0131 olarak tahvil ve hisse senedi giri\u015fleri ile finanse edildi\u011fi, do\u011frudan yat\u0131r\u0131mlar\u0131n ise \u00e7ok yeterli olmad\u0131\u011f\u0131n\u0131 g\u00f6stermektedir. \u00d6zellikle, son g\u00fcnlerde Borsa da ki Kar realizasyonlar\u0131n\u0131n artmas\u0131 ve endeksin 94 binden 73 bin seviyelerine gerilemesi ve D\u00f6vizde ki y\u00fckseli\u015f ile tahvil \u00e7\u0131k\u0131\u015flar\u0131n\u0131n artmas\u0131 nedeni ile faizlerin %9,50 seviyelerine y\u00fckselmesi Haziran ve sonra ki aylarda, sermaye \u00e7\u0131k\u0131\u015flar\u0131n\u0131n \u00f6zellikle tahvil ve hisse senetlerinde artmas\u0131ndan ve \u00f6zel sekt\u00f6r\u00fcn k\u0131sa ve orta vadeli bor\u00e7 riskini artt\u0131rmas\u0131ndan dolay\u0131, cari i\u015flemler a\u00e7\u0131\u011f\u0131n\u0131n finansman\u0131nda s\u0131k\u0131nt\u0131 olabilece\u011fi g\u00f6r\u00fclmektedir.<\/p>