Turkey's external debt stock reaches $466.7B in Q1

By Gokhan Ergocun

ANKARA (AA) - Turkey's gross external debt stock stood at $466.67 billion, more than half of its gross domestic product (GDP) -- 52.9 percent -- at the end of March 2018, the Treasury announced Friday.

According to the Treasury, the private sector's share in the country's gross external debt stock was 69.7 percent.

Nearly 75 percent of the total gross external debt of the country consisted of long-term debts -- with a maturity of more than one year.

Official data showed that Turkey’s net foreign debt reached $303.2 billion as of end of the first quarter of 2018, accounting for more than 34 percent of Turkey's GDP.

"For quarterly terms, ratios are calculated using gross domestic products (GDP) in the U.S. dollar amounts on a four quarter moving basis," the Treasury said.

Turkey's GDP from April 2017 to March 2018 period -- over the last four quarters -- was $882.16 billion.