Turkish private sector's foreign debt at $199.3B as of July

By Gokhan Ergocun

ISTANBUL (AA) - The Turkish private sector's foreign debt totaled $199.3 billion as of the end of July, the Central Bank of the Republic of Türkiye (CBRT) stated on Wednesday.

The debt stock was up by $2.5 billion from June, the bank said, adding that long-term loans amounted $188.6 billion, up $2.1 billion, and short-term loans were at $10.8 billion, up $0.4 billion.

US dollar dominated long-term loans with 58.2%, while euro followed it with 32.2%, and Turkish lira with 2%.

In short-term side, the US dollar's share was at 30.7%, euro 20.5%, while Turkish lira saw 47.2%.

The private sector’s total outstanding loans received from abroad with a remaining maturity of up to one year point to principal repayments of $59.4 billion by the end of July, the bank noted, adding:

"Of this amount, USD 38.7 billion is held by banks, USD 15.8 billion by non-financial institutions and USD 4.9 billion by non-bank financial institutions."