Minister Şimşek Emphasizes Support and Competitiveness for Exporters
Evaluating the July balance of payments data, Treasury and Finance Minister Mehmet Şimşek stated that steps will be taken to strengthen the position of exporters.
Following the release of the July balance of payments data, Treasury and Finance Minister Mehmet Şimşek stated in social media evaluations that exporters maintain their strong stance despite challenges in global trade.
July Balance of Payments Data
The balance of payments data for July was shared with the public by the Central Bank of the Republic of Turkey, and this data was handled in detail by the economic administration.
Annualized Figures in Current Account Deficit
Treasury and Finance Minister Mehmet Şimşek announced that the annualized current account deficit materialized at the level of 40.7 billion dollars in July.
Strong Position in Global Markets
Minister Şimşek stated that despite increasing cost pressures and uncertainties in global trade, exporters maintain their positions thanks to product diversity and production infrastructure.
Impact of Service Exports on External Balance
It was emphasized in the statement that the resilient course exhibited by service exports continues to positively support the country's external balance.
New Steps and Structural Transformation
It was reported that new steps to increase the competitiveness of exporters will be taken in the upcoming period and policies targeting high-technology production will be sustained.