Turkish private sector's 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,

Continue reading on: