Minister Nabati explains the reason for the stock market rally By Investing.com


© Reuters.

Investing.com – Treasury and Finance Minister Nureddin Nebati evaluated the assets, KKM volume and the rally in the stock market from his social media account at the weekend.

“The wheels of the economy turn with Turkish lira instruments”

Minister Nebati stated that the Currency Protected Deposit application, which was implemented to protect the savings of the citizens about 9 months ago, exceeded my volume of 1.3 trillion liras today, and made the following statement.

The wheels of the economy are turning with Turkish lira instruments. The increase in assets in Turkish lira and the extension of the maturities of savings are of great importance for both investments and loans within the financial system. In this way, our banking system can see the future while the savings earn, and our investors can easily meet their liquidity needs in this way.

We prefer the Turkish lira as the basis of the selective credit policies that will ensure that loans are directed to investment, exports and employment to meet productive companies and areas, that will break the inertia in inflation and reduce dollarization.

We opted for a reformist understanding that prioritized the Turkish lira. The wheels of the system are fed with Turkish lira. It’s our money, our savings, and our investment. At the point reached today, the number of real and legal investors in Currency Protected Deposit and Participation Accounts has reached 2 million 138 thousand 489 in total. As long as we trust our Turkish lira, we will be able to protect our country from all kinds of shocks, tensions and crises.

“The stock market is breaking records after a record, our capital markets are reassuring”

Stating that the rally in the stock market is the strongest rally in the last 17 years, Minister Nebati stated that the main reason for this rise is production and employment in the economy and made the following statement:

Our capital markets renew confidence every day and look to the future with confidence. Our stock market closed the week with the strongest rally in 17 years in dollar terms, and ended the week with 3,521,38 points.

The index has been breaking records for 2 months. So much so that this rise marks the strongest rally since July 2005.

Borsa Istanbul is becoming more and more attractive for our publicly traded companies and investors. At the point reached today, our Capital Market has reached TL 4.8 trillion with more than 29 million investors and more than 56 million accounts.

Our domestic and foreign investors rely on the balance sheets, capital structures and profitability of our companies, and are investing more and more in the capital markets every day.

BIST 100 index increased by 142 percent in a 1-year period. This rise is the clearest indicator of the trust placed in our Stock Exchange and our companies.

As Turkey’s production and exports increase, the real sector gets stronger. The strengthening real sector gives confidence to the capital markets. The rising production and employment capacity of our economy lies behind the rise in our stock market.

Author: Necdet Erginsoy

Leave a Comment

Your email address will not be published.