By Aysu Bicer
ANKARA (AA) – The Turkish private sector’s outstanding foreign loans totaled $163.6 billion as of May, decreasing by $5.4 billion compared to the end of 2021, the Central Bank said on Monday.
Short-term loans, excluding trade credits, from abroad amounted to $8.2 billion, an increase of $724 million over the same period.
Long-term loans stood at $155.4 billion as of May, down by $6.1 billion.
Of the total long-term loans, 38.3% were liabilities of financial institutions, while 61.7% were liabilities of non-financial institutions.
For short-term loans, 83.1% were liabilities of financial institutions and 16.9% were liabilities of non-financial institutions.
The majority of short-term credit – 41.7% – was in euros, followed by 38.6% in US dollars, 16.4% in Turkish liras and 3.3% in other currencies.
The private sector’s total outstanding loans received from abroad, based on a remaining maturity basis, point to principal of $45.8 billion for the next 12 months by the end of May, the bank said.