{"id":342124,"date":"2025-08-13T21:09:17","date_gmt":"2025-08-13T21:09:17","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/342124\/"},"modified":"2025-08-13T21:09:17","modified_gmt":"2025-08-13T21:09:17","slug":"simsek-says-turkiyes-current-account-gap-to-stay-at-sustainable-level","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/342124\/","title":{"rendered":"\u015eim\u015fek says T\u00fcrkiye’s current account gap to stay at sustainable level"},"content":{"rendered":"

T\u00fcrkiye’s current account deficit is expected to increase slightly but remain at a sustainable level of around 1.5% of national income by the end of the year, Treasury and Finance Minister Mehmet \u015eim\u015fek said on Wednesday.<\/p>\n

According to the government’s medium-term program, published in September last year, the current account deficit is expected to be 2% of gross domestic product (GDP) at the end of 2025.<\/p>\n

\u015eim\u015fek’s comments came a day after official data showed the deficit widened in June to $2 billion<\/a>, exceeding a market forecast of about $1.38 billion and rising from a gap of $750 million in May.<\/p>\n

The annualized current account deficit stood at $18.9 billion, the Central Bank of the Republic of T\u00fcrkiye (CBRT) said. \u015eim\u015fek said they anticipated the gap to be 1.3% of GDP in the second quarter.<\/p>\n

The current account deficit remains at sustainable levels as production increases, with strong exports and tourism revenues, along with the rising euro\/dollar parity, supporting the current account balance, the minister said on social media platform X.<\/p>\n

“We anticipate that decreasing global uncertainties and improving domestic financial conditions, accompanied by disinflation, will contribute to economic activity in the coming period,” he added.<\/p>\n

\u015eim\u015fek also referred to Monday’s data that showed T\u00fcrkiye’s industrial production expanded by 7.3% year-over-year in the April-June period, saying the output had expanded for three consecutive quarters.<\/p>\n

“In addition to this outlook in industry, the positive trend in construction and services indicates a strengthening of annual growth in the second quarter,” he wrote.<\/p>\n

The data showed T\u00fcrkiye’s industrial output expanded by 8.3% on a yearly basis in June. This was the fastest growth since February 2024<\/a>, when production surged 11.2%.<\/p>\n

Monthly, overall industrial production expanded 0.7%, slower than the 3.2% rebound in the previous month.<\/p>\n

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