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Minister Şimşek comments on current account deficit

Minister of Treasury and Finance Mehmet Şimşek stated that the ratio of the current account deficit to national income has fallen below 1 percent.

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Minister of Treasury and Finance Mehmet Şimşek shared a post on X regarding the current account deficit.

In his post, Şimşek noted the following:

'OUR ECONOMY'S RESILIENCE IS INCREASING'

"The ratio of the current account deficit to national income has fallen below 1 percent.

While a current account surplus of 4.3 billion dollars was recorded in August, the highest monthly surplus in 5 years, the annual current account deficit stood at 11.3 billion dollars. Thus, the decline in the annual current account deficit compared to May 2023 has reached 44.4 billion dollars.

In the first eight months of the year, portfolio inflows were 24.9 billion dollars, while the external debt rollover ratios for the banking and real sectors were 167 percent and 132 percent, respectively.

The decline in the current account deficit and the strong outlook in external financing are strengthening our macro-financial stability and increasing the resilience of our economy."