Thousands of young people among Turkey's 3.2 million unemployed are dreaming of getting a government appointment as a bankruptcy trustee. Since October, thousands of people have Googled the question “How can I become a trustee?” That in itself is enough to illustrate Turkey's economic problems — not to mention the unusual wave of bankruptcies the government has been involved in.

Turkey's economy has been shrinking for two years. The gross domestic product, which was $823 billion in 2013, was down to $720 billion at the end of last year. Turkey, which had the 17th-largest economy of the world, as of last year dropped to No. 19. Economic data for the first five months of 2016 are not all that promising, either.

Turkey’s exports declined 6.5% to $57.4 billion in the January-May period as compared with the same period in 2015. The government had set an export target of $155.5 billion for 2016 that isn't likely to be achieved.

A crisis reigns in the tourism sector, which is of vital importance to Turkey's economy. According to the official figures, compared with April 2015, 28% fewer tourists visited Turkey in April of this year. That was the most drastic monthly drop of the past 17 years. The tourism sector is expecting a $5 billion revenue loss for this year.