Call from Vice President Yılmaz regarding gold under the mattress: 'Without bearing the cost of storage...'

Vice President Cevdet Yılmaz stated that our stock of gold kept under the mattress is approximately 300 billion dollars, amounting to 4 thousand 670 tons, and that imports decreased by 2.8 billion dollars between June and October.

Explaining the regulations introduced to reduce gold imports, Yılmaz shared the following information: Gold imports in September and October decreased by approximately 31 and 39 percent respectively compared to the same months of the previous year, from levels of 2.8 and 3.1 billion dollars, and were realized at a level of approximately 1.9 billion dollars in both months.

MESSAGE ON GOLD UNDER THE MATTRESS

Vice President Yılmaz stated that there is state protection for up to 650 thousand TL in gold accounts, saying, "Our citizens will have the opportunity to earn real returns while keeping their gold in a secure environment without bearing the cost of storage."

Cevdet Yılmaz pointed out that some gold is in the form of jewelry while some is for savings, and provided information regarding the jeweler gold valuation system, gold-backed lease certificates, and gold-indexed currency-protected accounts.

"DEVELOPING SYSTEMS TO BRING IT INTO THE ECONOMY..."

Stating, "The issue is not investing in gold, but gold remaining outside the system," Yılmaz continued his words as follows:

"If gold is included in the system, it contributes to production and investment. This also applies to foreign currency. Those who keep foreign currency at home are providing zero-interest loans to the US and Europe. What matters is that it is included in the system. Attractive instruments have been developed, and efforts are underway to further develop them.

Work continues on developing existing systems and implementing new practices to bring gold kept under the mattress into the economy. In this process, banks being more active and facilitating the physical delivery of gold so that citizens can withdraw the gold they have deposited when they need it are among the steps planned to be taken in the coming period."