Turkiye Stands Out in OECD With Low Public Debt, Gold Strategy

As debates over debt sustainability in the global economy and the record surge in gold prices marked the start of 2026, Türkiye continues to positively differentiate itself among OECD and G-20 countries with its fiscal discipline performance and strategic increase in gold reserves.

While many advanced and emerging economies, such as Japan, China, Italy, the US and France, seek a way out from under massive debt burdens, Türkiye presents a profile that refreshes confidence in global markets with both its low debt ratio and strong reserve structure.

According to the latest data from the Organisation for Economic Co-operation and Development (OECD) and the relevant finance ministries, public debt sustainability in advanced economies is undergoing a historic test.

 OECD data show that the average public debt-to-GDP ratio in advanced economies has exceeded 110 percent. In Europe and North America in particular, aging populations, rising social expenditures, increasing defense spending and the high interest rate environment have pushed debt burdens to unsustainable levels.

Japan tops the list with a debt ratio reaching 237 percent . Interest payments exceeding 31 trillion yen in the 2026 budget have placed the country’s economy in a fragileposition. In the world’s largest economy, the US, public debt has reached 124 percent of GDP, while Canada stands at 113 percent, France at 111.7 percent and Italy at 137.8 percent, all above critical thresholds.

Meanwhile, according to data from the World Gold Council (WGC), the US, which holds the world’s largest gold reserves, ranks first with 8,133.5 tons. Approximately 79 percent of its total reserves consist of gold.Germany ranks second with 3,350.3 tons, while Italy (2,451.8 tonnes) and France (2,437 tons), maintain their positions in the top five through their traditional gold-holding policies.In recent years, Russia, which has pursued a de-dollarization strategy, holds 2,333 tons, while China, with 2,306 tons, continues to play a decisive role in the global league.

Through strategic purchases at the central bank level, Türkiye has managed to climb the global rankings.

According to Central Bank of the Republic of Türkiye (CBRT) data, with official gold reserves reaching 641.3 tons, Türkiye ranks just behind giants such as Japan and India, becoming the world’s 10th largest gold holder. At the same time, unlike many OECD countries, Türkiye displays a sustainable outlook in public debt management.