By Gokhan Ergocun
ISTANBUL (AA) – Turkish private sector's outstanding debt from foreign countries was $157.8 billion in October, down $975 million from the end of last year.
According to Turkish Central Bank figures released on Thursday, long-term loans totaled $149.1 billion, down $1.6 billion, and short-term loans totaled $8.7 billion, up $586 million over the same period.
Out of all the long-term loans, US dollars account for 59.3%, euros for 35.6%, Turkish liras for 2.2%, and other currencies for 2.9%.
And, of the total short-term loans, 40.2% are in US dollars, 32.4% in euros, 21.1% in Turkish liras, and 6.3% in other currencies.
According to the bank: "As for the sectoral breakdown by the end of October, of the total long-term loans in the amount of USD 149.1 billion, 36.2 percent consists of liabilities of the financial institutions; whereas 63.8 percent consists of the liabilities of the non-financial institutions.
"In the same period, of the total short-term loans in the amount of USD 8.7 billion, 73.7 percent consists of liabilities of the financial institutions; whereas 26.3 percent consists of liabilities of the non-financial institutions."
Total outstanding loans received from abroad in the private sector, based on remaining maturity; point out principal repayments of $47.1 billion for the next 12 months by the end of October.