Turkey's foreign trade balance recorded a current surplus of 4.3 billion dollars in August.

The Minister of Treasury and Finance, Mehmet Şimşek, stated that in August, a monthly surplus of 4.3 billion dollars was recorded, the highest in 5 years, and the annual current account deficit was 11.3 billion dollars, saying, "Thus, the decrease in the annual current account deficit compared to May 2023 reached 44.4 billion dollars." Minister Şimşek evaluated the August balance of payments data announced by the Central Bank of the Republic of Turkey in a post on his social media account.

"THE RATIO OF CURRENT ACCOUNT DEFICIT TO NATIONAL INCOME HAS FALLEN BELOW 1%"

Pointing out that the ratio of the current account deficit to national income has fallen below 1%, Şimşek stated, "In August, a monthly surplus of 4.3 billion dollars was recorded, while the annual current account deficit was 11.3 billion dollars. Thus, the decrease in the annual current account deficit compared to May 2023 reached 44.4 billion dollars." he evaluated.

"THE RESILIENCE OF OUR ECONOMY IS INCREASING"

Şimşek drew attention to the fact that in the first 8 months of the year, portfolio inflows were 24.9 billion dollars, while the external debt rollover ratios of banks and the real sector were 167% and 132%, respectively, stating, "The decrease in the current account deficit and the strong outlook in external financing are strengthening our macro-financial stability and increasing the resilience of our economy."