Türkiye's foreign trade deficit shows remarkable improvement in Q1
Türkiye's Minister of Treasury and Finance, Mehmet Şimşek, shared positive news on social media regarding the country's foreign trade performance.
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The announcement highlighted a significant improvement in the first quarter of 2024, with the trade deficit narrowing to $14.3 billion.
Şimşek pointed to strong export data for March, contributing to the positive trend. This development is expected to lead to a current account deficit well below the $34.7 billion projected for the year, according to the Medium-Term Program (MTP).
The Ministry aims to further reduce the current account deficit to below 2.5% of national income. This strategy, combined with an increasing inflow of foreign resources and a rebalancing of growth, is seen as a key factor in bolstering Turkey's macro financial stability. (ILKHA)
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