Minister of Treasury and Finance Şimşek announced that they foresee the sustainability of the current account deficit at a reasonable level. Şimşek stated, “We will make structural steps permanent in line with the current account balance target.” Minister of Treasury and Finance Mehmet Şimşek evaluated the current account balance data. Şimşek, in a post from his X account, used the following statements: “The current account deficit was well below our 2024 CBP target at 10 billion dollars (approximately 0.7% of GDP). Compared to the previous year, the current account balance improved by 29.9 billion dollars, and compared to the peak in May 2023, it improved by 45.1 billion dollars. In a period when our economy was growing and growth in our largest trading partner, the EU, was weak, the significant decline in the current account deficit was mainly due to the resilient structure of exports, reduction of import dependence, and strong tourism revenues. With our program, increased confidence and predictability led to accelerated capital inflows, easier access to external financing, and decreased costs. In 2024, there was a net portfolio inflow of 11.7 billion dollars while the external debt service ratios of the real sector and banks increased to 144% and 159% respectively. The decreasing current account deficit contributes to the decrease in external financing needs, accumulation of reserves, and strengthening of economic stability. We anticipate that the sustainable level of the current account deficit will be maintained in the upcoming period, considering the uncertainties in global conditions and the expected limited increase in the current account deficit along with the revival in economic activity. We will make the gains we have achieved in line with our sustainable current account balance target permanent through structural steps.”