Minister Şimşek Evaluates Balance of Payments and Current Account Deficit
Treasury and Finance Minister Mehmet Şimşek evaluated the July current account data and emphasized the contribution of service exports to external balance.
Treasury and Finance Minister Mehmet Şimşek announced that the annualized current account deficit stood at $40.7 billion in July.
Current Account Deficit Data
Treasury and Finance Minister Mehmet Şimşek shared the latest balance of payments data with the public via his social media account.
According to the official statement, the annualized current account deficit realized at the level of $40.7 billion in July.
Position of Exporters
Drawing attention to increasing cost pressures and uncertainties in global trade, Minister Şimşek evaluated the position of exporters.
It was stated that product and market diversity, along with a strong production infrastructure, play a critical role in maintaining the position in global markets.
External Balance and Services
It was expressed that the resilient course exhibited by service exports continues to positively support the country's external balance.
Future Period Policies
It was reported that new steps to increase the competitiveness of exporters will be taken in the upcoming period and structural transformation policies will be sustained.
With the goal of strengthening high-tech and value-added production, it is aimed to increase supply security.