Balance of payments

Confidence in economic program increasing: Şimşek

Standard & Poor's (S&P) has confirmed Türkiye's credit rating as "B" and changed its credit rating outlook from "stable" to "positive."

"Confidence in our medium-term program is increasing," Treasury and Finance Minister Mehmet Şimşek wrote on social media platform X on Dec.1, commenting on S&P's move.

Current account posts $674 million surplus in June

Türkiye's current account swung to a surplus in June for the first time since October 2021, helped by tourism revenues, data from the Central Bank showed on Aug. 11.

The country's current account surplus was $674 million in June, larger than what most analysts had expected. In May, the current account balance produced a deficit of $7.84 billion.

Notable drop in Greece’s current account deficit in Jan-May

Greece's current account deficit fell by 431.3 million euros year-on-year to stand at €1.6 billion, the Bank of Greece said on Friday.

In a monthly report the central bank said that the reduction in the goods deficit could be attributed to a larger drop in imports than exports in absolute terms.

Current account deficit at $7.9 billion

Türkiye's current account deficit rose from $5.4 billion in April to $7.93 billion in May, according to official data.

Excluding gold and energy, the current account indicated a net deficit of $1.2 billion, the Central Bank said on July 11.

Exports and imports stood at $21.3 billion and $31.8 billion, leading to a foreign trade deficit of $10.48 billion in May.

IOBE sees Greek economy growing 2.4% this year

Τhe Greek economy will grow at a slower pace this year compared with 2022, as a result of a slowdown in the global economy in an environment of high inflation, tighter fiscal and monetary policy and uncertainty, the Foundation for Economic and Industrial Research (IOBE) said in its quarterly economic outlook report released on Wednesday.

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