Business

Turkiye’s net external debt at $232 billion

Turkiye net external debt stock increased from $231 billion in the first quarter to $232.5 billion in the second quarter of 2022, data from the Treasury and Finance Ministry have shown.

Banks’ next external debt declined from $141bn to $137 billion, and the external debt excluding the monetary sector was $277.6 billion as of end-June, down from $279.4 billion at the end of the first quarter.

Banks’ net external assets, which stood at minus $52.4 billion in the first quarter, was minus $47.5 billion, while the monetary sector’s net external assets declined from $48.2 billion to $45.2 billion.

The country’s gross external debt stock fell from $451 billion at the end of March to $444 billion as of end-June.

Turkiye’s net external debt stock accounted for 28.1 percent of the country’s GDP,down from 29 percent in the first quarter.

The Treasury separately announced its borrowing strategy and debt redemption projections for the October-December period.

Accordingly, the Treasury plans a domestic borrowing of 61.8 billion Turkish Liras against its domestic debt redemption of 61.6 billion liras in October.

For November, the authority projects 31.2 billion liras of borrowing and 31.2 billion liras of debt repayment.

“In December, domestic debt redemption is projected as 24.2 billion liras, while domestic borrowing is projected as 24.2 billion liras,” the Treasury said.

Source
hurriyetdailynews

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