Minister Mehmet Şimşek Spoke at the Istanbul Economy Forum

Treasury and Finance Minister Mehmet Şimşek stated in his speech at the Istanbul Economy Forum that Turkey's indebtedness ratio is in an advantageous position, and the ratio of public debt to GDP stands at 22 percent.

Global Economic Developments and Turkey

Treasury and Finance Minister Mehmet Şimşek touched upon the challenges the global economy is going through, disruptions in supply chains, and the rise in energy prices at the Istanbul Economy Forum. Stating that Turkey prioritizes macrofinancial stability, Şimşek emphasized that global debt ratios are high, but the country is in an advantageous position in this regard.

Comparison of Indebtedness Ratios

Stating that the average indebtedness ratio of developing countries is around 230 percent, Şimşek noted that this ratio is at the level of 90 percent in Turkey. Conveying that Turkey's public debt-to-GDP ratio is 22 percent, Şimşek recorded that this provides significant fiscal space.