Şimşek: Türkiye holds an advantage with low debt levels

Speaking at the 19th Verona Eurasian Economic Forum in Istanbul, Şimşek noted that total global debt exceeds 300% of global GDP, while the debt-to-GDP ratio in emerging markets has surpassed 230%. He stated that Türkiye's budget deficit as a share of GDP is approximately half the emerging-market average, while its public debt ratio is around one-third of that average.

Sharing his outlook for the Turkish economy, Şimşek said the government expects GDP to reach approximately $1.8 trillion by the end of 2026 and $4 trillion in purchasing power parity terms. Emphasizing that comprehensive policies to combat high inflation remain in place, he said Türkiye aims to strengthen its competitive advantages in manufacturing, logistics, and services exports. Şimşek also highlighted that Türkiye has an 18- to 20-year window of opportunity in terms of its working-age population.