Turkish currency and debt crisis

Turkey hikes public wages by 25%

The wages of active and retired public servants will be increased by 25%, Turkey's President Tayyip Erdogan said on Tuesday, after annual inflation fell to around 64% due to base effects.

Speaking at an event in Ankara, Erdogan said the government saw inflation, which hit to its 24-year-high in October, falling further in 2023. [Reuters]

Short-term external debt at $138 billion

Türkiye's short-term external debt stock increased by 13.6 percent compared to the end of 2021 to stand at $138.1 billion at the end of August, the Central Bank has announced.

Over the said period, banks' short-term external debt stock rose by 8.2 percent to $55.6 billion and other sectors' short-term external debt stock increased by 15.4 percent to $50.9 billion.

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