Cevdet Yılmaz highlights potential of private gold and dollar reserves

Vice President Cevdet Yılmaz highlighted the significant economic potential of unofficial reserves held by Turkish citizens. During an economic consultation meeting in Eskişehir, Yılmaz noted that while the Central Bank's reserves reached $178.4 billion as of August 7, the amount of gold and dollars held privately by citizens — referred to as ‘under-the-mattress’ reserves — is substantially larger.

Yılmaz expressed hope that these private holdings would be integrated into the formal financial system, stating that doing so would significantly lower Turkey's risk premium. He emphasized that the government remains committed to implementing economic policies to maintain stability amidst global geopolitical tensions and economic shifts.