by Kasper Goossens
published on Wednesday 06 September 2023 at 20:59 •
4 min reading
Turkey is keen to bring a fully home-made fighter plane to market, the TAI TF KAAN, before 2030. Only, the country is in very difficult budgetary terms, with sky-high inflation and large outstanding debts. And that also has consequences for the aircraft project.
Why is this important?
As early as 2010, the Turkish Undersecretariat for Defense Industry started drawing on what was called the TF-X; Turkey’s first own full-fledged fighter jet. The development of the aircraft gained momentum in 2019. Because Turkey had bought S-400 anti-aircraft systems from the Russians, it was kicked out of the F-35 program by the United States. Since then, it has put everything on the TF-X (now called KAAN) that must compete with the F-35.
Outlined: Turkey is not in too good a budgetary position.
In August, annual inflation in the country rose to a whopping 58.9 percent, up from 47.8 percent the previous month. This means that many products, but also large projects such as the TF KAAN, become considerably more expensive. In addition, the country has significant outstanding foreign debts. In March it tapped no less than $ 476 billion. According to insurer Allianz Trade, Turkey will have to deal with this in the next twelve months
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2023-09-06 19:00:06
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