Turkey’s Treasury and Finance Minister Mehmet Şimşek has reaffirmed the government’s commitment to reducing external financing dependency while ensuring a sustainable current account balance.
In a statement shared on X, Şimşek highlighted key economic indicators:
- January’s annual current account deficit stood at $11.5 billion.
- The deficit is expected to rise in the coming months, but remain below the Medium-Term Program (MTP) forecast of $28.6 billion—equivalent to 2% of national income.
- Turkey’s gross external financing requirement relative to GDP has improved by 5.4 percentage points over the past two years, dropping below the long-term average of 18.6%.
Şimşek emphasized that these improvements have enhanced Turkey’s economic resilience, reducing external balance vulnerabilities. He reiterated the government’s strategy to further minimize external financing needs and enhance financing quality through long-term resources.