The Turkish private sector’s outstanding foreign loans in November totaled $167.8 billion, down by $5.2 billion compared to the end of 2020, the country’s central bank announced on Friday.
The sector’s short-term loans — excluding trade credits — received from abroad were at $8.2 billion in November, decreasing by $1.5 billion from the end of 2020, according to the Turkish Central Bank.
Liabilities of financial institutions made up 83.6% of all short-term loans, while liabilities of non-financial institutions accounted for 16.4%.
Broken down by currency, 40.3% of Turkiye’s short-term credit was in US dollars, 36.6% in euros, 19.1% in Turkish liras, and 4% in other currencies.
The private sector’s long-term debt narrowed by $3.7 billion to $159.6 billion, 40.3% of which is owed by financial institutions, the bank said.
Most of the long-term loans — 63.2% — were in US dollars, followed by 33.4% in euros, 1.5% in Turkish liras, and 1.9% in other currencies.
“The private sector’s total outstanding loans received from abroad, based on a remaining maturity basis, point to principal repayments of $40.4 billion for the next 12 months by the end of November,” the bank said.
Copyright 2022 Anadolu Agency. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.