Türkiye's mid-term economic program bearing fruit: Finance minister

ANKARA

Türkiye's medium-term economic program is bearing fruit with an improvement in financial indicators, its treasury and finance minister said Thursday.

Türkiye's five-year credit default swaps (CDS), the risk premiums of the treasury stocks, fell further to a more than four-year low, said Mehmet Simsek.

CDS dropped by 435 basis points compared to last year to 268 basis points, their lowest level since February 2020, Simsek said on the X platform.

Citing weekly figures from the Central Bank of Türkiye on Thursday, he said official reserve assets had reached $134.4 billion as of May 10.

"The positive results of our program and financial stability strengthened by growing confidence will make a significant contribution to disinflation," Simsek wrote.