Şimşek provided insights into Türkiye’s April foreign trade statistics on his X account, acknowledging a temporary increase in the annual foreign trade deficit for the month.

This uptick is expected to impact the current account deficit, but Şimşek anticipates a downward trend beginning in May.

He noted that while there may be potential fluctuations in the deficit for the rest of the year, the current account deficit to GDP ratio is projected to stabilize around 2.5% by the end of the second quarter.

Şimşek expressed confidence that by year-end, the current account deficit will be significantly lower than the target set in the Medium-Term Program.

Şimşek's projections suggest a positive outlook for Türkiye’s economic balance, with expectations of reducing both the foreign trade and current account deficits in the coming months. (ILKHA)