Turkish private sector’s foreign debt down in January

ANKARA

The Turkish private sector’s outstanding external loans decreased by $305 million to $168.6 billion in in January, according to data released by the Central Bank of the Republic of Turkey on March 16. 

The sector’s short-term loans received from abroad, excluding trade credits, hit $7.4 billion, down by $76 million from the end of 2021.

The liabilities of financial institutions constituted 82.7 percent of all short-term loans, whereas 17.3 percent consisted of liabilities of the non-financial institutions.

Broken down by currency, some 40 percent of Turkey’s short-term loans was in U.S. dollars, 35.1 percent in euros, 19.7 percent in Turkish Liras and 4.9 percent consisted of other currencies.

The long-term debts of the sector during the same period also declined by $229 million to $161.2 billion.

Some 39.9 percent of the total long-term foreign loans were owed by financial institutions.

Some 63.5 percent of the long-term loans was in U.S. dollars, while 33 percent of them was in euros.