By Muhammed Ali Gurtas
ANKARA (AA) - Turkey's private sector's outstanding long-term loans received from abroad rose to $220.6 billion as of December 2017, while short-term loans stood at $18.3 billion, according to an official report on Monday.
The Central Bank of the Republic of Turkey (CBRT) announced that private sector's pending long-term loans from abroad climbed $18.2 billion whereas short-term loans -- excluding trade credits -- increased by $4 billion compared to the end of 2016.
By definition, short-term loans have an original maturity of one year or less while long-term loans have an original maturity of more than one year.
"As for the sectoral breakdown by the end of December, of the total long-term loans in the amount of $220.6 billion, 51.3 percent consist of liabilities of the financial institutions, whereas 48.7 percent consists of the liabilities of the non-financial institutions," the CBRT said.
"In the same period, of the total short-term loans in the amount of $18.3 billion, 78.4 percent consists of liabilities of the financial institutions, whereas 21.6 percent consists of liabilities of the non-financial institutions," the bank added.
Regarding the currency composition, 58.6 percent of the total long-term loans were U.S. dollar loans, 34.9 percent consists of euro, 4.8 percent were in Turkish lira and 1.7 percent from other currencies, as noted in the report.
"And of the total short-term loans in the amount of $18.3 billion, 47.6 percent consists of U.S. dollar, 29.0 percent consists of euro and 23.4 percent consists of Turkish lira.
"Private sector’s total outstanding loans received from abroad based on a remaining maturity basis point out to principal repayments in the amount of $70.2 billion for the next 12 months by the end of December."
The central bank periodically releases the data for the private sector’s long and short-term loans received from abroad through gathering details from credit based forms submitted by resident financial institutions and companies.
According to the national data release calendar, the bank will announce next report on Thursday, March 15.