Mehmet Şimşek: Turkey will positively differentiate itself.

14.04.2025 14:40

The Minister of Treasury and Finance, Mehmet Şimşek, made a statement regarding the current account deficit and global trade wars. He noted that the falling oil prices would have a positive impact on Turkey's current account deficit, stating, "We believe that our effective trade diplomacy and the dynamism of our exporters will lead to a positive differentiation for our country during this challenging process."

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The Minister of Treasury and Finance, Mehmet Şimşek, evaluated the latest foreign trade figures. He stated that the decline in oil prices would positively reflect on the Medium Term Program (MTP) and noted that the current account deficit would remain at sustainable levels.

Minister Şimşek continued his statements as follows: In February, the annual current account deficit was 12.8 billion dollars, while the current surplus excluding net gold was 1.8 billion dollars.

"OUR COUNTRY WILL POSITIVELY DIVERGE"

With the effect of decreasing energy prices, we anticipate that this year's current account deficit will be lower than our MTP target. We will continue to use our resources to increase the welfare of our country by ensuring that the current account deficit remains at sustainable levels and by reducing the need for external financing.

We are continuing the necessary work to limit the impact of increasing protectionist trends in global trade on our country and to make the best use of potential opportunities. We evaluate that our country will positively diverge with our effective trade diplomacy and the dynamism of our exporters during this challenging process.