Current account

Travel receipts posted a remarkable 24.5% increase year-on-year in Greece in January and February, Bank of Greece data showed on Friday, helping moderate the country's current account deficit.

Travel receipts posted a remarkable 24.5% increase year-on-year in Greece in January and February, Bank of Greece data showed on Friday, helping moderate the country's current account eficit.

A decline in the current account deficit shows that the government's medium-term economic program is working, Treasury and Finance Minister Mehmet Şimşek has said.

He noted that the deficit was lower than expectations in February and the gap declined by $5.8 billion compared with the same month of last year.

Türkiye's current account deficit this year will be significantly lower than the initially forecast, Treasury and Finance Minister Mehmet Şimşek has said.

The improvement in annualized foreign trade deficit continued in March, Şimşek wrote on the social media platform X on April 5, commenting on the latest trade data.

Türkiye's current account balance produced a deficit of $2.56 billion in January with the annualized gap continuing to shrink, data from the Central Bank has shown.

This was smaller than the $2.8 billion deficit most economists had predicted.

Türkiye's current account deficit is likely to continue to decline in the months to come, Vice President Cevdet Yılmaz has said.

Türkiye's current account deficit came in at $45.15 billion in 2023, shrinking from  $49.09 billion in the previous year, data from the Central Bank has shown.

In December alone, the current account deficit was $2.09 billion, declining from $2.77 billion in November. This was less than the $3.3 billion gap economists had expected for the month.

The macroeconomic stability will be strengthened in order to attain a permanent improvement in the current account balance, Trade Minister Ömer Bolat has said.

Since June 2023, the annualized foreign trade deficit has been declining each month, while the 12-month rolling current account outlook has been improving, the minister noted in a statement.

Türkiye's current account posted a deficit of $2.7 billion in November 2023, after two months of surpluses, the data from the Central Bank showed on Jan. 12.

The current account recorded surpluses were $1.92 billion in September and $10 million in October.

Türkiye's current account posted a surplus for the second consecutive month in October, the data from the country's Central Bank have shown.

The current account produced a surplus of $186 million in October, which came on top of the $1.91bn surplus in the previous month.