Fitch forecasts Türkiye's debt market to reach $550 billion

According to its Türkiye Debt Capital Market Monitor report, the total value of outstanding debt instruments exceeded $526 billion at the end of the third quarter of 2026, representing a 4% year-over-year increase. However, total issuance volume declined to $115.3 billion during the first nine months of the year, partly driven by an 8% decrease in bond issuance.

The report highlighted that sukuk (Islamic lease certificate) issuance in Türkiye increased by 46% year over year between January and September, raising its share of total issuance from 11% to 16%. Türkiye ranked third among emerging markets excluding China in U.S. dollar-denominated debt issuance and fifth in sustainable finance-related issuance. Meanwhile, foreign investors' share of domestic government debt securities declined to 7.2% at the end of August. Fitch also noted that the yield spread between Türkiye's 10-year U.S. dollar bonds and U.S. Treasuries had narrowed from its peak in March.