Turkish private sector’s foreign debt at $161.2B

F.P. Report

ISTANBUL: The Turkish private sector’s outstanding foreign loans amounted to $161.2 billion at the end of November 2022, the country’s Central Bank announced on Monday.

The figure dropped by $7.2 billion compared to the end of 2021, the bank data showed.

Short-term loans – excluding trade credits – reached $8.5 billion, up $1.1 billion, while long-term loans fell by $8.3 billion to $152.6 billion.

The majority of long-term credit, 63.7%, was in US dollars, while 32.7% was in euros, 1.8% in Turkish liras, and 1.8% in other currencies.

For short-term loans, US dollars accounted for 39.2%, while 36.5% were in euros, 20.8% in Turkish liras, and 3.5% in other currencies.

The private sector’s total outstanding loans received from abroad, based on a remaining maturity basis, point to principal repayments of $40.9 billion for the next 12 months by the end of November.(APP)