Statement on Troubled Funds from Treasury and Finance Minister Şimşek
Minister Mehmet Şimşek stated that efforts are underway to pay troubled fund investors as soon as possible and at the highest level.
Treasury and Finance Minister Mehmet Şimşek announced that institutions are working in coordination regarding troubled funds and that steps are being taken to make payments to investors as soon as possible and at the highest level.
Troubled Fund Process
Treasury and Finance Minister Mehmet Şimşek stated that relevant institutions continue to work in coordination regarding troubled funds.
It was reported that necessary steps are being taken to enable payments to investors in the shortest possible time and at the highest level.
Legal Steps
It was noted that the Ministry of Justice is resolutely carrying out the legal process to protect the rights of investors.
This process aims to ensure that those responsible are held accountable.
Economic Resilience
It was stated that, despite challenging global conditions and war, the Turkish economy continues to maintain its resilience.
Despite high commodity prices, the downward trend in inflation continues, it was expressed.
Growth and Current Account Deficit
It was conveyed that Turkey's growth rate materialized at approximately twice the level of its trading partners.
It was announced that the ratio of the current account deficit to national income stands at a sustainable level of 2.6 percent.
External Financing and Debts
It was conveyed that the ratio of the gross external financing requirement to GDP hovers around 16 percent.
It was emphasized that the ratio of gross external debt to national income is 32 percent, well below its long-term average.
Budget and Public Debt
It was stated that the ratio of the budget deficit to national income is approximately 3 percent, which is half of the average for emerging economies.
It was expressed that the ratio of public debt to GDP is at the level of 22 percent.
Capital Markets
It was stated that thanks to strengthened macroeconomic foundations, the impacts of developments will remain limited.
It was conveyed that as a result of the measures taken, capital markets will attain a stronger structure.