Turkish private sector external debt falls

Turkish private sector external debt falls

ANKARA- Anadolu Agency
Turkish private sector external debt falls

The Turkish private sector’s outstanding loans received from abroad decreased this April from the end of December 2018, the country's central bank announced on June 19.  

Long-term debts of the sector reached $206.9 billion as of April, down $3.3 billion from the end of last year, the Central Bank of Turkey said in a statement.

"As for the sectoral breakdown by the end of April, of the total long-term loans, 48.4% consist of liabilities of the financial institutions; whereas 51.6% consists of the liabilities of the non-financial institutions," the statement said.

Nearly 61% of Turkey's private sector long-term debt was in U.S. dollars, with 33.9% in euros, 3.9% in Turkish liras, and 1.4% in other currencies.

The sector's short-term loans- debt that must be paid in the next 12 months- decreased by $3.6 billion to $11.8 billion during the same period.

Financial institutions constituted 70.3% of the short-term loans, while 29.7% consists of liabilities of the non-financial institutions.

"Of the total short-term loans in the amount of $11.8 billion, 46.1% consists of USD, 34.5% consists of Euro, 19.1% consists of Turkish lira and 0.3% consist of other currencies," it said.

private sector loans, Turkish economy,