Mehmet Şimşek: Current Account Deficit Nears 1 Percent
Minister of Treasury and Finance Mehmet Şimşek recently appeared on NTV to discuss various topics on the agenda. During his interview, Minister Şimşek touched upon several key points that are of interest to the public.
One of the main highlights of Minister Şimşek’s statements was the potential opportunities that the Gulf region holds for Turkey, especially in the tourism sector. He emphasized the importance of leveraging these opportunities for economic growth and development.
Additionally, Minister Şimşek mentioned the upcoming events and investor meetings of leading investment banks in the USA that he plans to attend. He expressed satisfaction with the strong support received over the past year, noting a significant flow of funds that are both cheaper and longer-term compared to the market.
Addressing the current account deficit, Minister Şimşek acknowledged it as Turkey’s soft underbelly. However, he pointed out that significant progress has been made in reducing the deficit, with projections indicating a structural transformation underway.
Furthermore, Minister Şimşek announced plans to attract investments for 284 identified products, with the goal of providing $30 billion in support for 30 key products under 8 main headings by 2030.
Regarding inflation, Minister Şimşek noted a significant decrease since its peak in May. He highlighted the impact of removing the 25 percent upper limit on rent increases, which led to a substantial increase in renewed lease agreements.
Overall, Minister Mehmet Şimşek’s statements provide insights into the government’s efforts to address economic challenges and promote growth. As inflation continues to decline, it is expected that measures will be taken to further reduce price increases and enhance economic stability in Turkey.
