Minister Şimşek: 'The share of TL deposits in total deposits is at its highest level in the last 11 years'

Minister of Treasury and Finance Mehmet Şimşek evaluated the latest data regarding Turkish Lira deposits. Şimşek announced that the share of TL deposits in total deposits has risen to approximately 62 percent, noting that this rate is among the highest levels seen in the last 11 years.

Sharing his assessment of the Central Bank of the Republic of Turkey's (TCMB) weekly money and banking statistics on his social media account, Şimşek stated that confidence in the Turkish Lira is strengthening. According to Minister Şimşek, increased predictability and investor confidence have supported a shift in deposit composition in favor of the TL.

EMPHASIS ON DE-DOLLARIZATION

In his post, Şimşek expressed that significant progress has been made in the de-dollarization process. He conveyed the message that the strengthening of confidence in economic policies and financial predictability has increased the tendency toward savings in Turkish Lira.

Minister Şimşek emphasized that price stability is the fundamental prerequisite for strengthening macro-financial stability and achieving sustainable high growth. Şimşek noted that the economic program aimed at increasing confidence in the Turkish Lira will be continued with determination.

In the assessment made based on TCMB data, it was stated that the transformation in the deposit structure in favor of the Turkish Lira is an important indicator in terms of financial stability and investor confidence.

News Source: 12punto