Turkish foreign trade minister Kursad Tuzmen said on Wednesday the lira currency remained much too strong and was contributing to a growing trade imbalance.
Turkey is rebounding from a 2001 recession that shrunk the economy by 10 percent. Confidence in the emerging market's recovery has propelled interest in Turkish assets, especially in the forex and domestic debt markets.
"The Turkish lira is still much too strong. The size of the deficit indicates this," Tuzmen said in an interview on CNBC-E television.
"If the lira wasn't too strong, the foreign trade deficit would be $8-$10 billion less."
In June alone, exports totalled $5.051 billion and imports were $8.446 billion, producing a deficit of $3.395 billion.
A Reuters poll forecast the deficit would actually fall month-on-month in July to $2.738 billion, as exports picked up speed and slowing consumer demand limited imports primarily of consumer goods.
Tuzmen said Turkey would be able to cope with a deficit of $25 billion to $30 billion this year.
He reiterated exports were expected to reach $60 billion this year, while imports were seen totalling $90 billion.
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