Ministry Şimşek's assessment of the current account deficit!

Central Bank data released in March showed that the current account deficit was 4 billion 544 million dollars. Treasury and Finance Minister Mehmet Şimşek made a statement on his social media account

Şimşek noted that the eight-month decline in the current account deficit is a success of the new program implemented by the government.

In his statement, the Minister made the following comments:

"The continuing decrease in the annual current account deficit for 8 months is the success of our program. The annual improvement in the current account deficit in March compared to May 2023 was 25.8 billion dollars. This realization implies that the annual current account deficit decreased to about 2.7 percent of GDP in the first quarter. With confidence in our program, our risk premium is falling and access to external financing is increasing. Capital inflows excluding reserves (official and banking) exceeded the annual current account deficit by 20 billion dollars in March. The improvement in our foreign exchange reserves will continue with the decline in the current account deficit and the positive outlook in external financing inflows. This will strengthen macro-financial stability further and make a significant contribution to the disinflation process."