Statement from Minister Şimşek on exports and current account deficit

Minister of Treasury and Finance Mehmet Şimşek reported that exports increased by 15.4 percent on an annual basis in September, the export increase in the first three months was 5.2 percent and annualized exports reached 283.7 billion dollars.

In his post on his social media account, Şimşek stated that despite the rising imports due to commodity prices, the increase in the foreign trade deficit was more limited than envisaged at the beginning of the war.

Stating that despite the effects of geopolitical tensions, the ratio of current account deficit to national income is expected to remain at manageable levels at 2.6 percent, Şimşek said that they continue to take steps to support exports during a period when global conditions are challenging.

Şimşek stated that the application conditions for foreign exchange conversion support have been made more flexible and simpler and the number of companies that can benefit from this opportunity has been increased, and said, "We will continue to support our real sector, which produces, provides employment and brings added value to our country."