Turkish private sector's foreign debt at $175.4B as of Aug

By Gokhan Ergocun

ISTANBUL (AA) – The foreign debt of the Turkish private sector totaled $175.4 billion as of August, up $11.2 billion from the end of 2023, the Central Bank of the Republic of Türkiye (CBRT) revealed on Wednesday.

Long-term loans amounted to $163.6 billion, an increase of $8.6 billion, while short-term loans were at $11.8 billion, up by $2.6 billion, the bank noted.

Some 57.6% of total long-term debt was in the US dollar, 35.2% in the euro, 2.5% in Turkish lira, and 4.7% in other currencies, while 45.9% of the short-term debt was in the US dollar, 16.3% in euro, 32% in lira, and 5.8% in different currencies.

"Private sector’s total outstanding loans received from abroad are based on a remaining maturity basis; point out principal repayments in the amount of USD 52.7 billion for the next 12 months by the end of August," the bank added.