Current account deficit message from Minister Şimşek: 'We expect it to be below the figure we projected in the MTP'

Minister of Trade Ömer Bolat published the "March 2024 Foreign Trade Press Release" in a post on X.

In his statement, Minister Bolat said, "Our exports in March 2024 amounted to 22 billion 578 million dollars."

MESSAGE ON CURRENT ACCOUNT DEFICIT AND RESERVES

Quoting Minister Bolat's message on X, Şimşek said the following:

"The improvement in the annual foreign trade deficit reached 14.3 billion dollars in the first quarter of 2024.

We expect a current account deficit well below the 34.7 billion dollars we projected in the MTP this year. We will ensure reserve accumulation by pulling the current account deficit to below 2.5 percent of the national income.

The decreasing current account deficit and our reduced need for foreign currency, with the contribution of rebalancing in growth, along with the increasing inflow of external resources, are strengthening our macro-financial stability."