By Mucahithan Avicoglu
ISTANBUL (AA) - Türkiye's short-term external debt was up to $170.3 billion at the end of May, the Turkish Central Bank said on Thursday.
The figure rose 1.2% or $1.95 billion from the previous month's $168.36 billion, the data showed.
The banks’ short-term external debt increased 1.1% to $73.9 billion, and the short-term external debt of other sectors climbed 2% to $66.8 billion over the same period.
The short-term foreign exchange (FX) loans Turkish banks took from abroad dropped 7.8% to $12 billion, while foreign exchange deposits of non-residents in resident banks fell 1.2% to $18.8 billion.
"FX deposits of non-residents (excluding banking sector) recorded $20.4 billion increasing by 0.1%," the Central Bank said in a statement.
"In addition, non-residents’ Turkish lira deposits increased by 9.9% and recorded $22.7 billion," it added.
The trade credit liabilities linked to foreign trade transactions rose 0.5% to $62.1 billion in May, while liabilities arising from cash loans increased 25.5% to $4.7 billion, the data showed.
The currency breakdown of the debt stock was 35% in US dollars, 27% in euros, 23% in Turkish liras, and 15% in other currencies.
On a remaining maturity basis, including external debt within one year, Türkiye’s short-term external debt stock at the end of May totaled $222.3 billion.