Turkey’s external assets at $244.6B in July

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's external assets amounted to $244.6 billion as of July this year, the Central Bank of the Republic of Turkey (CBRT) announced on Friday.

Since the end of 2018, external assets jumped by 6.8%, while liabilities against non-residents dropped 1.1% to $596.2 billion, the bank said in a statement.

The bank stated that the net international investment position (NIIP) -- difference between external assets and liabilities -- posted minus $351.5 billion at the end of July, versus minus $373.6 billion at the end of 2018.

It noted, reserve assets increased 6.8% to reach $99.4 billion, while other investment categories totaled $95.5 billion, up 7.6%.

"Currency and deposits of banks, one of the sub-items of other investment, recorded $49.7 billion indicating an increase of 11.1% compared to the end of 2018," the bank stressed.

It said direct investment -- equity capital plus other capital -- at the end of July rose by 3% to $144.4 billion versus the end of last year.

Lenders' total external loan stock slipped to $74.8 billion last July, down 8.6% compared to the end of 2018, it highlighted.

"Total external loan stock of the other sectors recorded $101.7 billion decreasing by 4.6%," it added.