Turkey’s economy may collapse in a couple of years if politicians do not show the West that the economy can be credible, Professor at the Massachusetts Institute of Technology (MIT) Daron Acemoglu told Hurriyet daily.

According to him, this may occur in the next one or two years as Turkey may face difficulties with receiving loans to pay off the debts.

The U. S. President-elect Donald Trump, in his opinion, can cause foreign capital to be withdrawn from Turkey as it will lead to growth of interest rates. This is evidenced by the fact that the U.S. dollar has gained value against the Turkish Lira.

The economist emphasized that economic development is highly correlated to press freedom.

“For long-term development, transparency, openness, comprehensiveness and competitiveness are crucial. It is very hard to provide that in places where there is no press freedom. Then, the possibility of monopolization, corruption of the judicial system, and the emergence of dictatorship escalates,” he noted.