20.08.2026 20:10
Vice President Cevdet Yılmaz stated that as of August 7, the Central Bank's reserves amounted to 178.4 billion dollars, but the amount of dollars and gold kept by citizens under the mattress is greater than this reserve, saying, “We have an even larger reserve in our nation. Unfortunately, we cannot reflect that on the balance sheets. It's the dollars and gold citizens keep under their mattresses. I wish these would enter the system more; then Turkey's risk premium would decrease much further.”
Vice President Cevdet Yilmaz came to Eskisehir to make various visits.
Eskisehir Governor Erdinç Yilmaz, AK Party deputy Nebi Hatipoglu, Eskisehir Metropolitan Municipality Mayor Ayşe Unluce, AK Party Eskisehir Provincial Chairman Gurhan Albayrak, as well as institution directors, welcomed him in the garden of the Eskisehir Governor's Office, alongside the police ceremonial squad. Cevdet Yilmaz, who signed the Eskisehir Governor's Office Honor Book, visited Governor Yilmaz at his office and received information about the work carried out in the city.
"COUNTRIES THAT MAINTAIN THEIR STABILITY, FOLLOW THE RIGHT POLICIES, AND PURSUE DETERMINED POLICIES WILL REACH A MUCH BETTER POINT AT THE END OF THIS PROCESS" After his visit to the governor's office, Cevdet Yilmaz attended the Eskisehir Development Platform Economy Consultation meeting in a hotel's conference hall. Vice President Yilmaz, stating that the world and the region are going through a period of great changes and transformations, said that on one hand there are increasing geopolitical tensions, and on the other hand, trade wars are being experienced.
Noting that there is a rising new production power in the Far East, as well as a new competitive environment this creates, Yilmaz said: "Therefore, we are in a period where uncertainties and chaos are rising. We are in a period where risks are increasing. We all need to analyze this very well. Along with these geopolitical developments and the period when protectionist tendencies in trade are strengthening, this is also a period when technological transformation is accelerating. We are in a period where digitalization, artificial intelligence, and various other technological fields, as well as green and digital transformation, are being discussed as a central trend all over the world. Therefore, when evaluating Turkey, both in general and locally, we need to analyze the conditions and course of the world and our region very well. We need to shape our own policies accordingly. I believe that countries that maintain their stability, follow the right policies, and pursue determined policies in this complex period will reach a much better point at the end of this process. Countries that cannot do this will unfortunately pay a heavy price. We are in such a risky period. Especially in this period, acting in unity and solidarity, maintaining stability, and effectively implementing the right policies have become more important than ever. World growth and world trade are running below their historical averages. Especially the European Union, which is our main market, has unfortunately been showing a growth performance of around 0 percent or 1 percent for a long time. In such an environment, it is very, very important for us, as Turkey, to implement our policies much more strongly."
"THE COST OF THE EARTHQUAKE IS 105 BILLION DOLLARS" Cevdet Yilmaz, recalling the earthquake that caused destruction in 11 provinces centered in Kahramanmaras, stated that more than 450 thousand houses were built during this process, saying, "Above all, we are now roughly recovering from the earthquake that caused great destruction in our 11 provinces this year. Maybe a few small things will remain for next year, but we are finishing the main large cost this year. You know, more than 450 thousand houses were built in a very short time. But the work in the earthquake zone was not just about housing. From roads to organized industrial zones, from hospitals to schools, an entire region has been rebuilt. By the end of this year, a cost of around 105 billion dollars will have been incurred. Thank God, the Republic of Turkey, under our President's resolute leadership, has overcome this great burden by using its budget very wisely and disciplined. Not everyone can do this; countries like this cannot succeed. Those who see it, and those who come from abroad, truly follow this with great admiration. Thank God, I can say that as of this year, we will ensure the country's exit from this burden."
"CITIZENS' UNDER-THE-MATTRESS SAVINGS ARE LARGER THAN THE CENTRAL BANK RESERVES" Vice President Cevdet Yilmaz stated that as of August 7, the Central Bank had reserves of 178.4 billion dollars, but the amount of dollars and gold citizens keep under the mattress is larger than this reserve, saying, "There have been significant increases in our Central Bank's reserves. Although they have decreased somewhat recently due to the impact of the war, as of August 7, we have reserves of 178.4 billion dollars. Our nation has an even larger reserve than this. Unfortunately, we cannot reflect this on our balance sheets. The dollars and gold citizens keep under the mattress. If only these entered the system more, then Turkey's risk premium would also decrease much further. We have an official reserve, and we have the reserve of our nation. This reserve is actually much larger. But unfortunately, we cannot reflect a significant portion of it. Because of this, different perceptions can arise at the global level. Hopefully, by entering the system more, these will also have a reducing effect on our country's risk premium and will be used productively."
"TURKEY'S CURRENT ACCOUNT DEFICIT IS 1.9" Sharing the information that Turkey's current account deficit was 1.9, below 2 percent, last year, Yilmaz said: "A few years ago, this was around 5 or 6 percent. Therefore, I can say that our current account deficit has significantly decreased and reached a much more manageable level. The recent war and its impact on energy costs will increase our current account deficit somewhat this year, but I believe it will remain at a manageable level. Our growth continues. We grew by 3.6 percent last year. We achieved this growth, last year's 3.6 percent growth, even though it was the worst year we have experienced in agriculture in a long time. There was both frost and drought last year. Therefore, there was a significant contraction in our agricultural sector. This year, thank God, it is a bountiful year. This year, on the contrary, agriculture will hopefully add strength to our growth. But last year, it negatively affected our growth. Despite this, we grew by 3.6 percent. We achieved our growth from services to industry. When you look at the last 6 years, that is, the 2020-2025 period. I tried to briefly present the state of the world. The entire world economy has grown by 19 percent cumulatively in the last 6 years. If it was 100 in 2020, the world economy became 119 last year. The Turkish economy, while it was 100 in the same period, has become 135."
It has achieved a cumulative growth of 35 percent. It has increased its capacity. The fact that we did not disperse our stalls, especially during the pandemic period, and that we followed rational policies had a significant impact on this. With growth and investments, Turkey has now reached a certain level in terms of capacity. We are trying to maintain and improve this. Our unemployment is at historic lows. It was 7.6 percent in June. In the first quarter, it was again below 8 percent. With the current method used to keep these unemployment statistics, looking back from 2005, this is the lowest level. We are in a very good position in terms of unemployment, and we continue to implement effective policies to reduce especially female and youth unemployment.
In addition to Vice President Cevdet Yılmaz, AK Party MKYK member and Eskişehir Deputy Nebi Hatipoğlu, Deputy Minister of Industry and Technology Çetin Ali Dönmez, Deputy Minister of Trade Mahmut Gürcan, Eskişehir Metropolitan Municipality Mayor Ayşe Ünlüce, Chairman of the Board of Eskişehir Organized Industrial Zone Nadir Küpeli, AK Party Provincial Chairman Gürhan Albayrak, MHP Provincial Chairman Ayhan Sezer, BBP Provincial Chairman Taha Baksan, and business people attended the consultation meeting.