Finance Minister Mehmet Şimşek Announces Significant Improvement in Trade Balance
Finance Minister Mehmet Şimşek declared a marked improvement in the trade balance. In July, the annual trade balance improved by $5.3 billion compared to the previous month and by $38.8 billion compared to the same month last year.
Minister Şimşek also stated that a significant decline in the annual current account deficit is expected in July. He highlighted that, in addition to cyclical factors, the implementation of structural reforms will make sustainable current account stability and gains in reserves permanent.
These announcements were made public by the Ministry of Finance.