Business · Economy · 2 hrs ago
Şimşek says Türkiye’s low debt helps it withstand economic shocks
Finance Minister Mehmet Şimşek said Türkiye’s low debt strengthens its resilience to economic shocks.
Speaking in Istanbul, he compared the country’s finances with those of other emerging markets.
Global debt exceeds 300 percent of world GDP, while debt in emerging markets is above 230 percent, he said.
Şimşek said Türkiye’s budget deficit is around half the emerging-market average and its public debt is about one-third of that average.
Lower debt gives Türkiye more room to respond to shocks while maintaining reasonable economic growth.
He also acknowledged that high inflation remains a major challenge and said the government is pursuing policies to bring it down.
At the forum, Şimşek said the government wants to help businesses that choose to operate in Türkiye.
Finance Minister Mehmet Şimşek said Türkiye’s relatively low debt burden helps it withstand external economic shocks.
He said the country has more room to respond to shocks while maintaining reasonable economic growth.
Şimşek said global debt exceeds 300 percent of world GDP, while debt in emerging markets is above 230 percent.
He noted that Türkiye still faces challenges, particularly high inflation, and said the government is working to bring it down.
He made the remarks at the opening of the 19th Verona Eurasian Economic Forum in Istanbul.
- Who
- Treasury and Finance Minister Mehmet Şimşek.
- What
- He said Türkiye’s relatively low debt burden strengthens its resilience to economic shocks.
- When
- Oct. 22. The article was published on Oct. 23, 2026.
- Where
- Istanbul, at the opening of the 19th Verona Eurasian Economic Forum.
- Why
- Şimşek said low indebtedness gives Türkiye more room to respond to economic shocks while maintaining reasonable growth.
This story does not have two clearly opposing sides.
Şimşek spoke at the opening of the 19th Verona Eurasian Economic Forum in Istanbul.
Hürriyet Daily News published its report on Şimşek’s remarks.
- Global debt
- More than 300 percent of world GDP
- Emerging-market debt
- More than 230 percent of GDP
- Türkiye’s budget deficit
- Around half the emerging-market average as a share of GDP
- Türkiye’s public debt
- Roughly one-third of the emerging-market average as a share of GDP
- Forum
- 19th Verona Eurasian Economic Forum, Istanbul
What people are saying
Globally, total debt has exceeded 300 percent of world GDP, while in emerging markets it has surpassed 230 percent. Türkiye is in an advantageous position in this respect.
President [Recep Tayyip] Erdoğan, our team and I are business-friendly. If you choose to conduct all or part of your business in Türkiye, we want to help you.