Turkish President Erdogan says Türkiye's energy supply, financial system resilient against potential shocks

ISTANBUL

Turkish President Recep Tayyip Erdogan said Monday that Türkiye’s financial system remains resilient and capable of absorbing potential shocks, citing strong liquidity and capital buffers in the banking sector.

Speaking after a Cabinet meeting in the capital Ankara, Erdogan said the Turkish Central Bank’s reserves stand at around $200 billion, underscoring the strength of the financial system.

“Our central bank reserves are around $200 billion. Our financial system, with its solid capital structure and strong liquidity, has the capacity to absorb any risks,” Erdogan said.

He also stressed that Türkiye faces no risks to its energy supply security, thanks to investments, agreements, and precautionary measures implemented in recent years.

Erdogan added that regulatory authorities have taken swift steps to ensure the stable functioning of financial markets.

“The Capital Markets Board and Borsa Istanbul have rapidly implemented regulations to ensure the safe and orderly functioning of the markets,” he said.

About trade flows with Iran, Erdogan noted that there are no disruptions or congestion at Türkiye’s three border crossings with Iran.