Minister Şimşek Predicts Current Account Gap Will Stay Below Official Forecast

Finance and Treasury Minister Mehmet Şimşek announced that as of March 2025, Türkiye’s 12-month rolling current account deficit dropped to $12.6 billion, a figure that may end the year below the Medium-Term Program (OVP) forecast.

In a statement shared on his official social media account following the release of March current account data, Şimşek emphasized that the deficit’s ratio to GDP is expected to remain under 1% in Q1.

Gold Imports Distort Broader Trend, But Surplus Seen Without It

While gold imports remained high due to rising global prices, the non-gold current account balance posted a $1.6 billion annual surplus, Şimşek noted. This indicates underlying strength in the trade balance excluding volatile commodity trends.

“Thanks to resilient exports, favorable energy prices, and strong tourism revenues, we project the current account deficit to remain well below our year-end Medium-Term Program estimate,” he stated.

Stronger Macroeconomic Stability Backed by Growing Reserves

Şimşek underlined that maintaining the current account at sustainable levels is key to reducing external financing needs. He added that with foreign exchange reserves increasing again, Türkiye is witnessing stronger macroeconomic stability and enhanced economic resilience.

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