Bolat stated that May's exports are expected to achieve the highest monthly figures in the history of the Republic, surpassing the numbers from the same period last year. He highlighted that the current signs indicate a significant increase in export performance.
Bolat emphasized the importance of maintaining foreign trade balance in light of global economic developments and Turkey’s export figures. He shared key insights from the Medium-Term Program:
"In the Medium-Term Program, there was a target of $106 billion for the foreign trade deficit, but our goal is to reduce this to $80 billion or below. The first four months of the year show encouraging signs, with a nearly 9% decrease in imports and a 30% decrease in the foreign trade deficit. We have reduced the deficit by $13.2 billion in this period. From May 2023 to March 2024, we observed approximately a $29 billion decrease in the foreign trade deficit and a $26 billion decrease in the current account deficit. This indicates successful progress in the macroeconomic balancing process."
Bolat also detailed the ministry’s support for exporters, noting that 60% of the ministry’s budget of 38 billion TL is allocated to aid exporters. He highlighted the various support modules and measures in place, reaffirming the ministry's commitment to standing by exporters and continuing to bolster their efforts.
The announcement underscores Turkey's strategic focus on enhancing export performance and achieving macroeconomic stability through targeted support and policy measures. (ILKHA)
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