Minister of Treasury and Finance, Mehmet Şimşek, stated that they will continue to reduce the need for external financing and improve the quality of financing. Evaluating the January balance of payments data in a post on his social media account, Minister of Treasury and Finance Mehmet Şimşek noted that the annual current account deficit was $11.5 billion in January. He stated, “We expect the forecasted increase in the current account deficit for the forthcoming period to stay below 28.6 billion dollars, which is the estimate of the Medium-Term Program (OVP) for the year, and below 2% of national income, at a sustainable level.” Minister Şimşek pointed out that the gross external financing requirement relative to national income improved by 5.4 points over the past 2 years due to the decrease in the current account deficit, falling below the long-term average of 18.6%. He added, “Thus, by significantly mitigating vulnerabilities related to external balance, we have made our economy more resilient and robust. We will continue to reduce the need for external financing and improve the quality of financing with sustainable current balance and long-term resources.”