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Urging mr erdogan to essentially return to economic orthotics such as raising interest rates as quickly as possible and essentially reining in government spending as much as possible. we will have to see in the coming days what kind of economic message he was sent to the markets simply because he is under tremendous pressure on throughout the election cycle, he has been spending, spending, spending, simply to keep the economy buoyant and alive. so that he can essentially maintain the facade of growth so that he doesn t get punished at the ballot box but at this point in time, unless he introduces capital controls or unless he goes back to economic orthodoxy i think the turkish economy is likely to face a severe balance of payments issue and could default on several loans. turkey s external debt is approaching 500 billion us dollars and total debt is estimated to be about $700 billion. the country is ....
At its present level. basically, a lot of economists are urging mr erdogan to essentially return to economic orthodoxy, such as raising interest rates as quickly as possible, and essentially reining in government spending as much as possible. we will have to see in the coming days what kind of economic message he will send to the markets, simply because he is under tremendous pressure and throughout the election cycle, he has been spending, spending, spending, simply to keep the economy buoyant and alive. so that he can essentially maintain the facade of growth so that he doesn t get punished at the ballot box. but at this point in time, unless he introduces capital controls or unless he goes back to economic orthodoxy, i think the turkish economy is likely to face a severe balance of payments issue and could default on several loans. turkey s external debt is approaching 500 billion us dollars and total debt is estimated ....