Page 49 - TURKRptFeb22

6.0 Public Sector
If Turkey were to launch a serious process to reverse what is a decade of institutional collapse, it would require at least five years of earnest and sincere efforts to get somewhere.
Restoring the $130bn of international reserves burnt up by the previous economic team led by Erdogan’s son-in-law finance minister Berat Albayrak in an incompetent attempt at defending the lira would require at least 10 years.
Addressing the financial mess and burden created by Turkey’s mass of public private partnership (PPP) projects would also take at least 10 years.
Turkey's central government debt expanded by 52% y/y to TRY 2.75 trillion ($205bn) in 2021.
933 billion lira was denominated in local currency, with the remaining 1.8 trillion lira in FX.
49 TURKEY Country Report February 2022 www.intellinews.com