Turkish private sector’s loans from abroad down in Jan

ANKARA (AA): Turkish private sector’s outstanding loans received from abroad fell in January, the country’s Central Bank (CBRT) reported Thursday.

Excluding trade credits, private sector’s short-term loans totaled $13.8 billion, going down $1.5 billion from the end of 2018.

Official figures revealed that financial institutions possessed 71.6 percent of the total short-term loans.

On the long-term side, the amount was $210.1 billion as of January, marking a $414 million decline compared with December 2018.

The CBRT noted that 48.8 percent of the external long-term loans consists of liabilities of the financial institutions.

“Regarding the currency composition, of the total long-term loans in the amount of $210.1 billion, 59.6 percent consists of US dollar, 34.7 percent consists of euro, 4.3 percent consists of Turkish lira and 1.4 percent consists of other currencies

“… And of the total short-term loans in the amount of $13.8 billion, 41.3 percent consists of US dollar, 34.1 percent consists of euro, 24.2 percent consists of Turkish lira and 0.4 percent consists of other currencies,” it said.

By the end of January, principal repayments of the private sector’s total external loans was $63.8 billion for the next 12 months.