(Bloomberg) -- Turkish government debt sales relative to repayments, or the so-called rollover ratio, have climbed to the highest level since at least 2003. Fiscal strain is on the rise amid an economic slowdown and a spending spree following back-to-back elections. Data through the end of June show the government has already tapped investors for 103.1 billion liras ($18.1 billion), 45% more than targeted, according to its borrowing strategy.
To contact the reporter on this story: Fercan Yalinkilic in Istanbul at fyalinkilic@bloomberg.net
To contact the editors responsible for this story: Mark Evans at mevans8@bloomberg.net, Constantine Courcoulas, Paul Abelsky
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