Turkish economy sees surge in portfolio inflows, boosting confidence in external financing
Treasury and Finance Minister Mehmet Simsek highlights a significant increase in portfolio inflows, signaling growing confidence and predictability in the Turkish economy
Minister of Treasury and Finance Mehmet Simsek highlighted the increasing confidence and predictability in the Turkish economy, stating that it has positively influenced external financing as well.
"While there was a net portfolio outflow of $2.9 billion in the first 5 months of 2023, there was a net portfolio inflow of $16.8 billion from June 2023 to February 2024," the minister said.
Simsek, commenting on Sisecam's issuance of the largest bond in the history of the Republic, emphasized that this news provides a timely response to claims that "no foreign resources are coming into the country."
"Thanks to increasing confidence and predictability, our country is securing longer-term and more cost-effective external financing from international markets. While there was a net portfolio outflow of $2.9 billion in the first 5 months of 2023, there was a net portfolio inflow of $16.8 billion from June 2023 to February 2024."
"The debt rollover ratio in the same period increased from 96% to 149% in banks and from 73% to 118% in the real sector. In the first 4 months of the year, banks issued $10.7 billion, including $3.7 billion in capital-like instruments, while the private sector issued $1.6 billion in eurobonds," he said.
Source: Newsroom
