Şahali: Debt Hits TL20 Billion In 3.5 Months

Speaking to KP TV, Şahali argued that such a trajectory makes any healthy economic progress impossible, adding that the government is operating without a clear direction.

He also pointed to growing pressure on key sectors, noting that the war has negatively affected export markets, particularly for halloumi, which had been sold to Gulf countries. The contraction in demand, he said, is now threatening the dairy and livestock industries.

Şahali described recent developments allowing potential access to the EU market via the Green Line as significant, stressing that certification and hygiene standards will be key for producers to compete.

Turning to public spending, he said authorities had previously admitted that “the bottom has been reached” in state finances, while ongoing uncertainty over allowances and legal changes is increasing economic unpredictability.

He further claimed that the budget deficit effectively places a debt burden of between TL50,000 and TL60,000 on each individual, underscoring the scale of the fiscal challenge.

Şahali also criticised government claims on minimum wage increases, questioning whether living standards had improved accordingly.