Business · Markets · 10 hrs ago
Fitch sees Türkiye’s debt market reaching $550 billion by 2027
Fitch expects Türkiye’s debt market to reach $550 billion by 2027 as the market continues to grow.
Outstanding debt securities exceeded $526 billion at the end of the third quarter of 2026, up 4% from a year earlier.
But total issuance fell to $115.3 billion in the first nine months of 2026, as bond issuance dropped 8%.
Sukuk issuance rose 46%, lifting its share of total issuance from 11% to 16%.
Türkiye ranked third among emerging markets excluding China for dollar-denominated debt issuance, and fifth for dollar-denominated ESG debt issuance.
The forecast points to continued market growth, while Fitch also noted improved liquidity for rated sukuk.
Non-resident investors held 7.2% of domestic government debt securities at the end of August 2026, a slight decline.
Fitch Ratings expects Türkiye’s outstanding debt capital market instruments to reach $550 billion by 2027.
The market’s outstanding instruments exceeded $526 billion at the end of the third quarter of 2026, up 4% year on year.
Total debt capital market issuance fell to $115.3 billion in the first nine months of 2026, with bond issuance down 8% year on year.
Sukuk issuance rose 46% year on year in January–September, lifting its share of total issuance to 16%.
Türkiye ranked third among emerging markets excluding China for dollar-denominated debt issuance in the first nine months of 2026.
- Who
- Fitch Ratings.
- What
- Fitch expects Türkiye’s outstanding debt capital market instruments to reach $550 billion by 2027.
- When
- The forecast was reported on October 27, 2026; the target is by 2027.
- Where
- Türkiye.
- Why
- Fitch expects the market’s growth to continue.
This story does not have two clearly opposing sides.
Non-resident investors held 7.2% of domestic government debt securities, a slight decline.
Outstanding debt capital market instruments exceeded $526 billion, up 4% year on year.
Total issuance was $115.3 billion, while sukuk issuance rose 46% year on year.
Fitch expects outstanding debt capital market instruments to reach $550 billion.
- Outstanding instruments
- More than $526 billion at the end of the third quarter of 2026
- Forecast
- $550 billion by 2027
- Total issuance
- $115.3 billion in the first nine months of 2026
- Sukuk issuance growth
- 46% year on year in January–September 2026
- Sukuk share
- 16% of total issuance in January–September 2026