Turkish Treasury and Finance Minister Nureddin Nebti said that the total volume of deposits according to the deposit system protected from exchange rate fluctuations exceeded 312 billion liras (about 23 billion US dollars).
This came in a press conference held in the British capital, London, on Tuesday, in which, during the previous two days, vegetarians held meetings with high-ranking company and bank officials.
Vegetarian stated that there is an important package related to the financial markets in Turkey that will be announced during the coming period, aimed at introducing gold saved in homes into the financial system.
He pointed out that the volume of gold mentioned amounts to about 5,000 tons, equivalent to between 250 and 350 billion dollars.
The Turkish Finance Minister said on Monday that his meetings with investors in London - where they discussed Turkey's new economic model - were very positive.
The Turkish lira deposit, which is protected from exchange rate fluctuations, is a financial mechanism launched by Turkey late last year, as it ensures that the lira depositor will not be a victim of exchange rate fluctuations, and obtain the declared interest, in addition to the difference in the dollar price between the time of deposit and withdrawal.
Turkish President Recep Tayyip Erdogan has called on many occasions for his citizens - ordinary individuals and businessmen - to keep their savings in the local currency, and to introduce the money hoarded at home in the form of golden savings into economic activity.
Figures about the gold sector in Turkey
The data available on the website of the Ministry of Energy and Natural Resources in Turkey shows that the mining activity in gold began in 2001, and that about 2.5 billion dollars were pumped by local and foreign investors, and that the mining activity in the field of gold provides 6,200 direct job opportunities, and about 25 thousand opportunities. Indirect action.
However, Fatih Donmez, Minister of Energy and Natural Resources of Turkey, stated in early 2021 that his country has invested about 6 billion dollars in exploration and extraction of gold, and that the sector accommodates 13 thousand and 200 workers, and that Turkey has 18 mines to produce gold, and there are other projects, on the way to work in new mines. .
The ministry's data indicate that Turkey's annual gold production in 2019 amounted to about 38 tons, and that it has gold reserves that represent 0.5% of total global reserves, and that it owns 2% of gold resources.
Recently, the Minister of Energy stated that Turkey produced 40 tons of gold by the end of 2020, and that his country aims to increase production of gold to 100 tons, and that Turkey's gold imports in 2020 amounted to 25.2 billion dollars.
Turkey is one of the most important gold importers in the world, as its average annual import for a long time has been up to 156 tons, but in 2018, Turkey's gold imports witnessed a huge boom, as imports this year amounted to 324 tons, while Turkey's exports range from gold jewelry Between 5 and 7 billion dollars.