ANKARA: Turkey posted some of its worst budget and unemployment data since 2009, when the impact of the global financial crisis was at its peak. The central government ran a budget deficit of 6.8 billion liras ($1.8 billion) in February, the biggest shortfall for the month in eight years, the Finance Ministry said on Wednesday. Youth joblessness surged to 24 percent in December, Turkey’s state statistics institute said in a labor report, the highest level since April 2009.
Higher unemployment is the latest sign that Turkey’s economy is struggling to recover from last year’s failed coup, which led to a contraction in the third quarter. The government is increasing spending and rolling out tax breaks and other incentives to spur growth ahead of an April 16 referendum on constitutional changes that would transfer sweeping powers to the presidency.
