Core Insights - Turkey achieved a record monthly current account surplus of $5.5 billion in August, indicating improved external balance and enhanced macro-financial resilience [1] - The annual current account deficit has been reduced to $18.3 billion, a decrease of approximately $37.6 billion since May 2023 [1] - The ongoing improvement in the current account balance is decreasing Turkey's reliance on external financing, with the total external financing needs as a percentage of GDP dropping from 23% in June 2023 to around 17% currently [1] Economic Measures - The Turkish government has implemented a series of macroeconomic adjustments since mid-2023 aimed at reducing inflation, strengthening fiscal discipline, and narrowing external imbalances [1] - Policies have been introduced to attract foreign investment, enhance export competitiveness, and rebuild foreign exchange reserves [1] - The combined effects of decreased foreign exchange demand, improved international financing channels, and strengthened foreign exchange reserves are contributing to the stability of Turkey's macro-financial system [1]