Turkish private sector's foreign debt rises to $173.3B at end-2024

By Tuba Sahin

The Turkish private sector's outstanding external loans increased to $173.3 billion as of end-2024, the country's Central Bank said on Tuesday.

The private sector's total outstanding loans received from abroad grew by $17.6 billion compared to a year ago, the bank data showed.

Short-term loans – excluding trade credits – of the sector received from abroad in the same period reached $15.5 billion, up $2.8 billion, while long-term loans rose $1.2 million to $157.8 billion.

The private sector's total outstanding loans received from abroad, based on a remaining maturity basis, point to principal repayments of $53.4 billion for the next 12 months by the end of last year.