Debt in Turkey much less than other countries, finance minister says

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."

Turkey's public debt is one-third of the world average, the minister added.