Household and government debt in Turkey is much lower than other developing and developed nations, the country’s treasury and finance minister said Monday.
The Turkish economy has been resistant to this year's crises so far and will gain more strength in overcoming this global situation, Berat Albayrak said on Twitter.
Household debt per capita stands at $1,291 in Turkey versus $26,680 in developing countries, he wrote, noting: “This is well below the world average of $6,271."
According to the data that Albayrak shared in his tweet, the U.S. has the world’s largest household debt per capita, which stands at $49,579. The U.S. is followed by the U.K. with around $34,749 and South Korea with some $29,778.
The same figure stands at $25,621 in Germany, $25,497 in France, $22,736 in Japan, $17,010 in Spain, $13,000 in Italy and $5,819 in China.
Turkey’s public debt is one-third of the world's average, which stands at around $9,108, Albayrak added.
According to the data, Japan has the largest public debt per capita at around $91,624. The average among developed and developing countries stands at $41,178 and $2,726, respectively.
The U.S. comes in second with public debt per capita at around $69,551, followed by Italy with $49,690, France with $46,175 and the U.K. with $44,755.
The public debt per capita in Turkey stands at around $2,854, according to the data.