"This success is not a coincidence"

Minister of Treasury and Finance Mehmet Şimşek, in his post on his social media account, stated that the current account had a surplus of 2.7 billion dollars in September, while the annualized current account deficit decreased to 39.2 billion dollars.

In his post, Şimşek said:

"With the positive trend in goods exports and the contribution of tourism, our annualized exports of goods and services exceeded 410 billion dollars. The rise in energy prices after the Russia-Ukraine war led to a significant increase in our current account deficit. The flat rate of the current account deficit to national income ratio in the recent period, when one of the largest energy supply shocks in recent history was experienced, is an important indicator of the increasing resilience of our economy.

We predict that the ratio of the current account deficit to national income, which will be 1.9 percent in 2025, will be below our MTP forecast with a limited increase this year, despite the war, and will be around 2.2 percent, which is the third quarter realization forecast. This success is not a coincidence. It is a concrete result of our policies that prioritize macro financial stability. "We will continue to increase the quality and competitiveness of our exports with our policies that increase product and market diversity, support high value-added and technology-intensive production, accelerate adaptation to green and digital transformation and diversify our service exports."