Turkish private sector's foreign debt falls in July

Turkish private sector's foreign debt falls in July

Turkish private sectors foreign debt falls in July

The Turkish private sector’s outstanding external loans stood at $173.3 billion in July, decreasing by $130 million compared to the end of 2020, the Turkish Central Bank said on Sept. 15. 

Excluding trade credits, the sector’s short-term loans received from abroad were at $9.5 billion in July, down $240 million from the end of last year.

Liabilities of financial institutions constituted 83.2% of all short-term loans.

Broken down by currency, a major chunk of Turkey’s short-term credit- 38.2% - was in U.S. dollars, with 34.5% in euros, 23.8% in Turkish liras, and 3.5% in other currencies.

The private sector’s long-term debts increased by $110 million to hit $163.8 billion in July.
 Some 40.7% of the total long-term foreign loans were owed by financial
institutions, according to latest data.

Most of the long-term loans- 61%- were in U.S. dollars, followed by 34.9% in euros, and 2.3% in Turkish liras.

Economy, foreign debt,