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.
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)