The gross debt stock of Turkey’s central government hit 1.7 trillion Turkish liras (around $246.9 billion) as of end-July, the Treasury and Finance Ministry announced on Thursday.

The figure rose 41% compared to the corresponding period in 2019, the ministry data showed.

The gross debt stock includes the outstanding debt of public sector institutions, the Central Bank, private companies, and households.

Some 48% of the debt stock is denominated in local currency, while the rest is in foreign currency, the ministry said.

Nearly 1.05 trillion Turkish liras ($150 billion) of the debt was domestic and 674.2 billion liras ($96.7 billion) were external, it added.

The stock of Treasury receivables stood at 18.4 billion liras ($2.6 billion) at the end of last month.

The US dollar/Turkish lira exchange rate was 6.97 at the end of July.

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