Statement from Minister Şimşek on problematic funds and economy

In his statement on his social media account, Minister Şimşek said, "Our institutions continue their work on problematic funds meticulously in coordination. Necessary steps are taken to ensure that investors are paid as soon as possible and at the highest level. Our Ministry of Justice carries out the legal process with determination in order to protect the rights of investors and ensure that those responsible are held accountable. Despite the difficult global conditions and war, the resilience of our economy continues."

Stating that the decline in inflation continues despite high commodity prices, Şimşek said, "Our growth is approximately twice that of our trading partners, and the ratio of the current account deficit to national income is at a sustainable level at 2.6 percent. The ratio of gross external financing needs to GDP, which has a long-term average of 20 percent, is at 16 percent, and the ratio of gross external debt to national income is 32 percent, well below the long-term average of 44.5 percent. The ratio of budget deficit to national income is approximately 10 percent." "3 is half of the average of developing countries, and the ratio of public debt to GDP is one-third of developing countries, at 22 percent. The macroeconomic foundations we have strengthened and the steps taken will ensure that the effects of the developments on the financial system and the real economy will be limited, and our capital markets will have a stronger, healthier and more durable structure."