International macroeconomics

No production model change

The trade balance of agri-food products was in surplus in three of the last four years (2020, 2021 and 2023), a positive development, but not sufficient to change the sign from negative to positive in the overall trade balance.

Decline in current account gap is program’s success: Şimşek

The decline in the annual current account deficit, which has been continuing for eight months, is the success of the economic program, Finance Minister Mehmet Şimşek has said.

The annualized current account deficit declined by $25.8 billion in March compared with June 2023, Şimşek said, commenting on the latest balance of payments data the Central Bank unveiled on May 13.

Current account deficit comes in at $4.5 billion in March

The current account balance posted a deficit of $4.54 billion in March, narrowing from $5.25 billion in the same month of last year, data from the Central Bank has shown.

Analysts had expected the current account deficit to come in at less than $4 billion.

The 12-month rolling current account deficit eased from $31.94 billion in February to $31.2 billion in March.

Decline in CA deficit shows economic program works, says Şimşek

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.

Current account deficit will be less than forecast in 2024: Şimşek

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.

Japanese Yen Hits Lowest Level Since 1990

Amid a strengthening dollar fueled by robust U.S. economic indicators, the Japanese yen tumbled to its lowest level in 34 years. On Tuesday, the U.S. dollar surged to 151.97 yen, surpassing the previous multi-year peak set in October 2022. This surge has triggered concerns over Japan's currency stability, prompting Finance Minister Shunichi Suzuki to hint at potential intervention.