Treasury and Finance Minister Şimşek's Evaluation of July Balance of Payments
Evaluating the July balance of payments data, Minister Mehmet Şimşek announced that the annualized current account deficit stood at $40.7 billion.
Treasury and Finance Minister Mehmet Şimşek evaluated the July balance of payments data announced by the Central Bank of the Republic of Turkey on his social media account.
July Current Account Deficit Figures
According to the July balance of payments data announced by the Central Bank of the Republic of Turkey, the annualized current account deficit materialized at $40.7 billion.
Global Position of Exporters
Minister Şimşek emphasized that they are in a period where cost pressures and uncertainties are increasing in global trade. He stated that exporters maintained their position thanks to product and market diversity.
Impact of Service Exports
The resilient course of service exports continues to positively support the external balance. This situation contributes to the economic rebalancing process.
Competitiveness and Structural Transformation
Steps to increase the competitiveness of exporters will be taken in the upcoming period. Structural transformation policies that will strengthen high-tech and value-added production will be sustained.