- Real Turkey Channel mostly covered cyclical developments in Turkey since May 2023 elections.
- As the economic stability program gains speed and attracts foreign investor interest, it is time to take a pause and dissect one of the most pressing structural problems: The budget deficit.
- This podcast covers the four black holes in the Turkish budget. These are interest expenses, contributions to social security, the huge share of personnel expenses and finally the payments to concession holders for toll roads, tunnels, etc.
- While short-term fiscal restraint is possible, in the long-term Turkey will be burdened by large deficits which will sap economic growth and employment via higher taxes.
- Turkey’s demographics is gradually becoming her worst enemy, because of high unemployment and low wages. Time is running out to invent lasting solutions to the budget deficit problem.
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