Turkish private sector's foreign debt at $165.7B in March

By Gokhan Ergocun

ISTANBUL (AA) - The Turkish private sector's foreign debt totaled $165.7 billion as of March, indicating an increase of $1.7 billion from the end of 2023.

According to official figures from the Turkish Central Bank on Thursday, long-term loans amounted to $155.3 billion, up by $452 million, and short-term debts recorded $10.4 billion, up by $1.3 billion, over the same period.

58.5% of the long-term loans were in the US dollar, 35.3% in Euro, 2.2% in Turkish lira and 4% in other currencies, while 48% of the short-term loans were in the US dollar, 26.8% in Euro, 20.5% in Turkish lira and 4.7% in other currencies.

The private sector’s total outstanding loans received from abroad based on a remaining maturity basis point out to principal repayments in the amount of $51.1 billion for the next 12 months by the end of March.