Business

Private sector’s external debt at $162 billion

The private sector’s total outstanding loans received from abroad declined by $7 billion from the end of 2021 to stand at $162 billion as of July, the Central Bank data have shown.

Long-term loans fell by $7.1 billion over the same period to decline to $154.5 billion, whereas the private companies’ short-term loans -excluding trade credits rose by $85mn to $7.6 billion.

“Regarding the currency composition, of the total long-term loans in the amount of $154.5 billion, 65 percent consists of the U.S. dollar, 31.6 percent consists of euro, 1.5 percent consists of Turkish Liras and 1.9 percent consists of other currencies,” the Central Bank said.

Some 41.7 percent of the short-term loans consist of the dollar,37.3 percent euro, 17.5 percent lira and 3.5 percent other currencies, according to the bank.

Financial institutions’ liabilities accounted for 37.7 percent of the long-term loans, while non-financial institutions’ share was 62.3 percent.

In the same period, of the total short-term loans, 79.9 percent consisted of liabilities of financial institutions, while 20.1 percent consisted of liabilities of non-financial institutions.

“Private sector’s total outstanding loans received from abroad based on a remaining maturity basis point out to principal repayments in the amount of $44.2 billion for the next 12 months by the end of July,” the bank said.

Source
hurriyetdailynews

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