Statement on KKM by Cevdet Yılmaz: Currency-Protected Deposits Completely Eliminated

Vice President Cevdet Yılmaz announced in his speech at the Medium-Term Program International Media Meeting held at the Presidential Complex that the currency-protected deposit scheme has been completely eliminated.

International Media Meeting Held

Vice President Cevdet Yılmaz came together with foreign press members at the meeting organized at the Presidential Complex, with the participation of Minister of Treasury and Finance Mehmet Şimşek and Head of Presidential Strategy and Budget İbrahim Şenel.

Currency-Protected Deposits Zeroed Out

During the meeting, Yılmaz officially reported that currency-protected deposits have now reached a zero level and the system has been entirely abolished.

It was particularly emphasized that this process was accomplished extremely smoothly and successfully, without causing any harm to the financial markets and overall financial stability.

Confidence in the Turkish Lira Increased

Comparing the economic picture of three years ago with today's situation, it was recalled that foreign currency deposits were very high in the past, while Turkish lira deposits were at low levels.

It was stated that at the current point, Turkish lira deposits have nearly doubled, whereas the proportion of foreign currency deposits has fallen below the 40 percent mark.

Economic Indicators and Reserves

According to the announced official data, Turkey's gross reserves reached a size of 188.2 billion dollars as of August 28, 2026.

In addition, it was noted that CDS premiums, which serve as a risk indicator for the country's economy, have dropped below 220 points.

Growth and Inflation Forecasts

Within the framework of economic developments, it was reported that the growth forecast has been revised to 3.3 percent, and the year-end CPI forecast has been updated to 28.4 percent.