The central government total TL and foreign currency gross debt amount announced by the Ministry of Treasury and Finance revealed that Turkey's debt amount has increased in a tragicomic way. While the citizens paid the heavy price of the economic crisis, the government's terrible debt brought the country to the brink of bankruptcy. The figures of the central government gross debt amount by year reveal what kind of debt the country has been dragged into due to the wrong policies implemented in the economy. When the AKP government came to power, that is, in 2003, the total debt amount of the state was 283 billion TL, and this debt amount doubled after 7 years and reached 474 billion TL in 2010. In 2015, the debt stock rose to 678 billion TL and to 1 trillion TL in 2018. The course of the total public debt stock after 2018 draws attention. It is seen that a new record has been broken in government borrowing every year since 2018. The amount of central government debt increased by 300 billion TL in 2019 to 1,3 trillion TL, by 500 billion TL increase to 1,8 trillion TL in 2020, and by 900 billion TL increase to 2,7 trillion TL in 2021.
THE AMOUNT OF DEBT IN 10 MONTHS INCREASED 1 TRILLION!
Breaking record after record in debt, Turkey's total debt increased by 1 trillion TL in the first 10 months of 2022, setting a new record. As of the end of October, Turkey's total debt amount rose to 3,8 trillion TL. While Turkey's debt amount increased by 50-100 billion TL annually, the increase in the annual debt amount, especially after 2018, was 300, 500, 900 billion, and in 2022, annual debt increases of trillions began to be experienced. Until 2018, that is, in the 95-year history of the Republic, the state borrowed a total of 1 trillion TL, while the fact that this amount of debt was made only in 10 months of 2022 reveals what kind of debt swamp Turkey was dragged into during the AKP governments. While this terrible increase in the public debt stock is dragging Turkey to the brink of bankruptcy, the government’s insisting on wrong economic policies instead of taking precautions as a response to this bad course draws attention.