ISTANBUL, Oct. 13 (Xinhua) -- Türkiye posted a record current account surplus of 5.5 billion U.S. dollars in August, the highest monthly surplus in the nation's history, Finance Minister Mehmet Simsek said on Monday.

With the record-high surplus in August, the annual current account deficit narrowed to 18.3 billion dollars, Simsek said on social media platform X.

The minister added that the recovery in the current account balance is reducing Türkiye's need for external financing.

The combination of lower foreign exchange needs, improved access to international financing, and stronger reserve buffers is reinforcing Türkiye's macro-financial resilience, according to Simsek.

Türkiye has been implementing a series of macroeconomic adjustments aimed at reducing inflation, improving fiscal discipline, and narrowing external imbalances since mid-2023. The government has also introduced measures to attract foreign capital, enhance export competitiveness, and rebuild foreign exchange reserves. ■