Statement on Economic Indicators from Treasury and Finance Minister Şimşek
Minister Mehmet Şimşek emphasized the resilience of the economy and the strength of macroeconomic data on social media.
Treasury and Finance Minister Şimşek stated in a social media post that the economy maintains its resilience, the decline in inflation continues, and key macroeconomic indicators are at positive levels.
Economic Resilience and Processes
The Ministry of Justice is resolutely carrying out the legal process to protect investors' rights and ensure that those responsible are held accountable. Despite challenging global conditions and war, the resilience of the economy continues.
Inflation and Growth Rates
Despite high commodity prices, the decline in inflation continues. The growth rate is materializing at approximately twice the level of trading partners.
Current Account Deficit and External Financing
The ratio of the current account deficit to national income is at a sustainable level of 2.6 percent. The ratio of the gross external financing need, which has a long-term average of 20 percent, to gross domestic product is at the level of 16 percent.
External Debt and Public Balances
The ratio of gross external debt to national income is 32 percent, well below its long-term average of 44.5 percent. The ratio of the budget deficit to national income is at approximately the 3 percent level.
Public Debt and Future Expectations
The ratio of public debt to gross domestic product is 22 percent, which is one-third the level of developing countries. Strengthened macroeconomic fundamentals will keep the impacts of developments limited.