Turkish private sector’s foreign debt down to $155.3B in August

DUBAI

The Turkish private sector’s outstanding debt received from abroad was at $155.3 billion in August, down by $2.5 billion versus the end of 2022.

Long-term loans totaled $146.5 billion while short-term loans amounted to $8.7 billion, the country’s Central Bank said on Monday.

Some 59% of the total long-term loans were in US dollars, 36.1% in euros, 2.1% in Turkish liras and 2.8% in other currencies, while the majority of the total short-term loans – 38.6% – was in US dollars, followed by 36.1% in euros, 18.6% in Turkish liras and 6.7% in other currencies.

Of the total long-term loans, 35.1% were liabilities of the financial institutions, while 64.9% consisted of the liabilities of non-financial institutions.

Of the total short-term loans, 74.3% consisted of liabilities of the financial institutions, while 25.7% were liabilities of the non-financial institutions.

“Private sector’s total outstanding loans received from abroad based on a remaining maturity basis; point out to principal repayments in the amount of USD 44.5 billion for the next 12 months by the end of August,” the Central Bank said.

• foreign debt
• private sector
• Turkiye