Mehmet Şimşek reveals 'the biggest disadvantage'

Treasury and Finance Minister Mehmet Şimşek made an assessment on his social media account following the announcement of current account balance, industrial production, and unemployment data.

Şimşek used the following expressions:

"With our policies aimed at rebalancing growth, the current account balance posted a surplus in October as well, and the annual deficit has decreased by 9.6 billion dollars compared to May. Thanks to the decline in the current account deficit and the increasing interest of international investors in our country, our reserves have reached a historic high of 140 billion dollars.

With the policies we are implementing, we are reducing vulnerabilities on one hand, while establishing sustainable growth focused on investment, employment, production, and exports on the other. Our biggest disadvantage in this period is the weak demand from our trading partners, which limits export growth. The trend in industrial production largely reflects this. In October, the unemployment rate fell to 8.5 percent, the lowest level in the last 11 years. We are seeing the results of the policies we have implemented every day, and our program targets will continue to be realized one by one."

Büyümede dengelenmeye yönelik politikalarımızla cari denge ekim ayında da fazla verdi, yıllık açık mayısa göre 9,6 milyar dolar azaldı.

Cari dengedeki düşüş ve ülkemize yönelik artan uluslararası yatırımcı ilgisi sayesinde rezervlerimiz 140 milyar dolar ile tarihi yüksek… https://t.co/hS0IJKN6aO

— Mehmet Simsek (@memetsimsek) December 11, 2023

News Source: 12punto