Debt technique and debt management developments in the field in Turkey interest expenses on the effects

Interest expense in the Turkish budget system in the first quarter, especially in the 1990s and 2000s, have attracted attention as an important item of expenditure. In particular, the economic crises in the period 1994-2001 in line with Treasury borrowing to meet cash needs of high-interest papers in this case was obliged to give priority expenditure items (health, education and social spending) prevented making the desired level.However, after 2002 the political stability, especially in terms of economic and financial burden interest expenses in the budget has decreased each year. More than half of GDP, while interest payments in 2001, this proportion was reduced to 30% by the year 2010. On the other hand again, all tax revenues collected in 2001 and reached the final stage, this rate was not enough to interest payments and reduced interest expense in the financial dominance of the central government budget has been reduced.Historically subjected to significant changes in interest expenses and the expenses which are the main reason for the selection of public sector debt as the subject of the thesis has demonstrated a significant share of the change is rapid. This is especially so in recent years become a very important technique of borrowing and debt management has demonstrated that depending on the various aspects of change and development in the last part of the study are discussed.One of the most important results achieved in this study compared to previous years prolonged maturity of public sector borrowing, ie treasury bills and treasury bonds to be used rather than the beginning of the financial terms of the pressure effect due to reduced interest expenses and borrowing, and thus become more sustainable. On the other hand, particularly the negative consequences of borrowing because the interest expenses in the income distribution is one of the clippings that impair the Treasury has done well because of the high magnitude of the negative impact on the situation in question.