Türkiye's Finance Minister highlights economic stability amid declining current account deficit

In a statement on X, Minister Şimşek highlighted that the ratio of the current account deficit to national income has fallen below 1 percent. He noted that August saw the highest monthly current account surplus in five years, amounting to $4.3 billion, while the annual current account deficit stood at $11.3 billion. This marks a substantial decline of $44.4 billion compared to May 2023.

Minister Şimşek also reported that portfolio inflows reached $24.9 billion in the first eight months of the year. Additionally, the external debt rollover ratios for banks and the real sector were 167 percent and 132 percent, respectively.

"The decline in the current account deficit and the strong outlook in external financing strengthen our macro financial stability and increase the resilience of our economy," said Minister Şimşek. (ILKHA)