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Vice President Yılmaz's message on 'current account deficit'

Vice President Cevdet Yılmaz drew attention to the decrease in the current account deficit. Yılmaz stated, "With our economic program, which we continue to implement with determination, we foresee the current account deficit decreasing further and the quality of financing increasing even more."

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Vice President Cevdet Yılmaz stated, "Our current account deficit continues to decrease."

Yılmaz continued as follows:

"As of March 2024, the annualized current account deficit has decreased by 25.8 billion dollars compared to May 2023, falling to the 31.2 billion dollar level. In the January-March 2024 period, the improvement in the current account deficit reached 13.7 billion dollars compared to the same period last year.

The improvement in the current account balance has largely stemmed from the decline in the foreign trade deficit. The balance of payments-defined foreign trade deficit decreased by a total of 15.1 billion dollars in the January-March 2024 period compared to the same period of the previous year.

The 'Public Savings and Efficiency' package, which we announced today and one of the main objectives of which is to strengthen fiscal discipline, will also support the positive trend in the current balance by increasing our domestic savings while reducing public expenditures.

With our economic program, which we continue to implement with determination, we foresee the current account deficit decreasing further and the quality of financing increasing even more."