Türkiye’s foreign trade deficit drops by $38.7 billion in July
![Türkiye’s foreign trade deficit drops by $38.7 billion in July Türkiye’s foreign trade deficit drops by $38.7 billion in July](/img/NewsGallery/2024/8/28/412941/FeaturedImage/8a90ed5a-23b1-4b1b-a2c2-f9910cb1b342.webp)
Turkish Treasury and Finance Minister Mehmet Şimşek announced that Turkey’s annual foreign trade deficit decreased by $38.7 billion in July compared to the same period last year.
This reduction reflects a current account deficit of less than $20 billion for the month of July.
In a statement on X, Minister Şimşek highlighted the progress in addressing Turkey’s high current account deficit, describing it as a significant step in managing macroeconomic imbalances.
He noted that the decline in the current account deficit and reduced need for external financing are crucial for the disinflation process.
Minister Şimşek emphasized that achieving price stability is a key goal, aiming to improve income distribution and boost overall welfare in the country. (ILKHA)
LEGAL WARNING: All rights of the published news, photos and videos are reserved by İlke Haber Ajansı Basın Yayın San. Trade A.Ş. Under no circumstances can all or part of the news, photos and videos be used without a written contract or subscription.
Turkish Minister of Transport and Infrastructure, Abdulkadir Uraloğlu, shared key insights following the 1st Ministerial Council Meeting for the Development Road Project, also known as the "New Silk Road."
Türkiye's Economic Coordination Board (ECB) will meet today at 11:00 am, chaired by Vice President Cevdet Yılmaz at the Presidential Complex in Ankara.
Türkiye's exports saw a significant increase in July 2024, while imports decreased, leading to a substantial reduction in the trade deficit, according to the latest data from the Turkish Statistical Institute.