Economist Prof. Dr. Korkut Boratav: ‘Foreign debt sinks Turkey’
The AKP government, which could not create new resources in the long economy, started to start school.
Raising the son, announced by the Ministry of Treasury and Finance, remained in the treasury’s interior and the debtor (principal) 3.1 besides lirayan. The interest burden to be paid on the maturity of the debt increased to TL 304 billion more than the monthly payment period. 1.5 lira of the principal of this debt is domestic debt. Here, the total interest burden is 2.1 lira. A result of 309 billion liras is added due to the increase in the interest rate of the domestic debts borrowed with inflation indexed interest in the last month, the increase in both the exchange rate and the last production. For the first time this year, the interest debts of the March domestic debt stock exceeded the principal amount. The gap continued to widen in April.
1.6 TRILLION LIRA
A portion of 1.6 lira of the debt stock is foreign debts. The interest burden of foreign debts is buying 662 billion liras at the end of April 2022 at the exchange rate. Foreign and domestic debt in foreign currency accounts for 65.6 percent of the external debt stock. Foreign exchange and interest holders, on the other hand, have 76.1 percent of the debt holders. What emerges in exchange rate and interest is also multiplied by the treasury.
Economist Prof. Dr. Korkut Boratav, it should be noted that no economy has been harmed by domestic debts: “The critical issue here is foreign debts. It is bankrupt from foreign debts. Dinner is out of the question anyway. The world is a bankruptcy scenario, it’s about foreign debt. It also has criteria. Domestic debt is best paid off. The Central Bank does not print money. You risk the consequences, you pay. How to use inflating debts. Get your papers, relax. It’s okay to state that you tax, you get wealth tax. Conversion of debts in TL is not a problem. External lenders are critical. These debts will be given to be hanged.” Boratav, who is believed to be the most important factor in Turkey’s foreign affairs, is the short-term debt, and said that these figures indicate simplicity and observance.
“LIKE APPOINTMENT”
Domestic consumption, which Boratav describes as “a bad purchase”, should also be purchased along with shopping. Turkish bank issuances represent the actual confiscation of foreign currency from local users in Turkey. Things that consume their paper tomorrow day.”
GUEST: RISK RISK SIGNAL
Economist Prof. Dr. Aziz Konukman, CDS, which is described as the “country risk premium”, would focus on 700 points for Turkey. Pointing out that the vehicle becomes more difficult as the risk premium increases, Konukman said, “The fact that the risk has not increased that much is a signal. It is the red line. “There has been a massive increase in borrowing,” he said. Upward of the issues planned by the exchange rate protection, the minister drew attention to the accrual-collection with the budget. Pointing out that this rate is 45.6 percent in April 2022, Konukman continued as follows: “57.8 percent in tax income and 53.4 percent in tax. There is a collection of 25.1 percent in the declaration tax and 7.3 percent in the income tax in the simple method. So taxes cannot be collected.” According to Konukman, the tax is accelerated both in TL and on its basis.