Finance Minister Mehmet Şimşek Announces Historic Reserve Levels
Finance Minister Mehmet Şimşek has stated that reserves continue to strengthen and reserve adequacy is improving. According to Şimşek, the gross reserves have reached a historic peak of $148.4 billion, marking an increase of $50 billion compared to May of last year. Excluding swaps, net reserves have increased by $78.7 billion during the same period, reaching $18.1 billion.
Şimşek highlighted that this trend in reserves significantly contributes to financial stability and supports the disinflation process.
Source: Ministry of Finance