#Forex Haberleri

Minister Şimşek: Export support will continue

Minister of Treasury and Finance Mehmet Şimşek stated, “We will continue to support production and exports in line with our sustainable current account deficit target.” Minister Mehmet Şimşek made evaluations regarding foreign trade on his social media account. In his post, Şimşek used the following expressions: The annual foreign trade deficit improved by 7.3 billion dollars in March compared to the same month of the previous year, reaching 84.5 billion dollars. Despite the daily deficit, while exports increased by 3.2 percent in March, excluding energy, imports increased by 0.8 percent. Tariff increases expected to negatively impact global growth increase risk perceptions in the markets and exert downward pressure on commodity prices. While weak global growth poses a risk to our exports, the relatively low tariff rates in our country may provide comparative advantages in some sectors. On the other hand, it is expected that the decline in commodity prices and tightening domestic financial conditions will weaken imports. We will continue to support production and exports in line with our sustainable current account deficit target.

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