It was just an example. Gold would work too. Point is you should have 2-3 times your gdp in cash/gold in deposits, and never spend more than you can pay off. Strictly budget discipline.
Stable economy that you can’t screw around with will ensure fdi in trillions regardless of how politicians go fucking around with each other.
I like where you are coming from, but 2 - 3 times GDP (given GDP is a year total measure) is too extreme (for say setting as law/institution) or something...for Turkey and most countries.
Even complete gold standard is effectively just for 1 year (assuming money circulation velocity of about 100% of GDP).
Climb back up that ladder (and being only country to do it, since swiss left it in mid 90s iirc)...would mean repeal of FBR (fractional banking reserve) etc....that would be too painful for Turkey for little benefit imo (as current world system operates quite differently now post-brettonwoods which is really long story).
Lot of (well run and not well run w.r.t their development level) countries are across the board from top to bottom here:
The average for 2021 based on 138 countries was 69.41 percent. The highest value was in Luxembourg: 437.15 percent and the lowest value was in Tajikistan: 7.13 percent. The indicator is available from 1960 to 2021. Below is a chart for all countries where data are available.
www.theglobaleconomy.com
Vietnam = 18%
Japan = 220%
(Just as one example of disparity between countries well run compared to their dev level)
When you go past 100% (rare, you can see most countries are below) there is another phenomenon happening that takes longer explanation to get into (its off topic)....but its largely result (of being financial hub supplier) rather than policy driven (for the public benefit).
Public benefit/drive number is more how much the country
saves each year as % of GDP (that year too)....rather than simply what sits accumulated (this integral is not that important compared to its yearly derivative and vectoring).
Striving for balanced govt budget (legislation, institution or firm-policy wise) is excellent vein on this that you suggest as govt should (IMO) minimize debt as they are operating on public mandate (costs are collectivized).
This is why credit rating is largely based on such thing too (taking into account the income/productivity of ppl as well etc), the govt is fundamentally showing it is not borrowing beyond its means.
Gold reserve + forex is just one recourse (for public investment by govt) btw, there is lot of other things to invest into as "sinks" that will always be needed ....land, real estate, well-run corporations etc.
Singapore Temasek is good one to study...for how Singapore govt does it.
Again it needs good discipline by the govt itself to recognise its role in the country and keep it minimized (and concentrated in those essential areas, law+order+basic welfare+public institutions etc)...and keep sound financial minds for its policy in long term investment/hedge for the public welfare at large.