Regarding the August current account deficit figures, Vice President Cevdet Yılmaz said, “The decreasing current account deficit continues to contribute to the disinflation process.”
Yilmaz said in his statement:
“The decreasing current account deficit continues to contribute to the disinflation process by strengthening macro-financial stability.
We see that the positive trend in the current account balance is maintained in August 2024, as the services balance also supports the improvement in the foreign trade deficit.
Pure transactions balance gave a surplus of 4.32 billion dollars in August after June and July of 2024. As of August 2024, the annualized current account deficit decreased to 11.25 billion dollars.
The positive results we get from macroeconomic and financial indicators show the effectiveness of our Economic Program.
“We anticipate that the current account deficit will continue to decrease with the improvement in our foreign trade deficit and the increase in our service revenues, and that we will easily reach our target of 1.7 percent in the MTP for the ratio of the current account deficit to national income at the end of 2024.”