Turkish private sector's foreign debt down to $154.6B in June

Turkish private sector's foreign debt down to $154.6B in June

Long-term loans decrease while short-term loans up in June, versus end-2022

By Gokhan Ergocun

ISTANBUL (AA) - The Turkish private sector's foreign debt was at $154.6 billion as of June, decreasing by $3.2 billion from the end of the last year, the country's central bank stated on Wednesday.

Long term loans totaled $145.8 billion, down $3.9 billion, while short-term loans amounted to $8.8 billion, up by $676 million in June, versus Dec. 31.

59% of the long-term loans were in the US dollar, while euro's share was at 36.4% and Turkish lira's at 1.9%.

In the short-term, 39.1% of the debt was in the US dollar, 38.2% in euro, and 15.6% in Turkish lira.

34.7% of the long-term loans consists of liabilities of the financial institutions, while 65.3% consists of the liabilities of the non-financial institutions. These ratios were 76.1% and 23.9% for short-term loans, respectively.

"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 42.5 billion for the next 12 months by the end of June," the bank added.

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