Türkiye Posts 1st Current Account Surplus in 9 Months
10 Articles
10 Articles
The current account balance turned positive in July, marking the first time in eight months. Treasury and Finance Minister Mehmet Şimşek announced that the annualized current account deficit was $40.7 billion, emphasizing that exporters maintained their position in the global market.
Commenting on the current account surplus of $36 million in July, Treasury and Finance Minister Mehmet Şimşek said that exporters maintained their position despite uncertainties in global trade, and that this supported the external balance.
Trade Minister Ömer Bolat stated that the goal of the Medium-Term Economic Program is to gradually reduce the current account deficit, adding that the increase in exports and the rise in tourism and travel revenues will support the improvement in the current account balance.
“It is aimed to gradually reduce the current account deficit under the Medium-Term Program in the coming period” “The increase in exports during the program period is expected to continue and the rise in tourism and travel revenues will support the improvement in the current balance”
Türkiye's current account balance recorded a surplus of $36 million in July. Excluding gold and energy, the current account balance showed a surplus of $4.972 billion. The annualized current account deficit was approximately $40.7 billion.
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