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Turkey Faces Rise in Short-Term Debt, Unemployment Rate

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Turkey’s short-term external debt stock reached USD118 billion at the end of January, the Turkish Central Bank said on Friday. 

The figure was up 1.5 percent compared to the end of last year when the debt was some USD116.3 billion, the bank said in a statement.

The unemployment rate also sparked to its highest levels in nine years, at a time when Turkish President Recep Tayyip Erdogan has pledged to restore economic growth after local elections on March 31.

The unemployment rate also sparked to its highest levels in nine years. (Shutterstock)

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