Minister Şimşek announces: How much hot money has entered Turkey?

Minister of Treasury and Finance Mehmet Şimşek responded to claims that no foreign capital is entering Turkey.

Şimşek stated that thanks to increasing confidence and predictability, Turkey is securing longer-term and more cost-effective external financing from international markets compared to the previous period.

Stating that while there was a net portfolio outflow of 2.9 billion dollars in the first five months of 2023, there was a net portfolio inflow of 16.8 billion dollars in the June 2023-February 2024 period, Şimşek said, "The external debt rollover ratio in the same period increased from 96 percent to 149 percent for banks, and from 73 percent to 118 percent for the real sector. In the first four months of the year, banks issued 10.7 billion dollars in eurobonds, including 3.7 billion dollars in subordinated capital, while the private sector issued 1.6 billion dollars."

News Source: İHA