Interest payments in Turkey hit a record: $6.3 billion paid
The June interest data, highlighted by economists Kerim Rota and Ömer Rıfat Gencal during a live broadcast, revealed the danger in Turkey's borrowing costs. Rota stated that billions of dollars in interest were paid for just a single bond.
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Economist Kerim Rota and journalist Ömer Rıfat Gencal addressed striking issues in public finance.
While Rota announced that Turkey made $6.3 billion in interest payments in June alone, Gencal described the figure as "Disastrous. This is a terrifying number."
"THERE IS NO POSSIBILITY OF IMPROVEMENT"
Gencal stated that it is unrealistic to expect a positive turnaround regarding high interest payments unless the government changes its policy.