The central government debt of Turkey was 28 percent of the country’s gross domestic product (GDP) at the end of 2017.
Although making financial predictions is usually a fool’s game, I’m pretty confident that by the end of 2020, the central government debt of Turkey will be higher than 40 percent of GDP.
My prediction is based on the ongoing crisis. Private debt tends to become public debt in these circumstances. Because the debt is dollar-denominated, it cannot be inflated away.
Check this post in 2021!