(MENAFN) Turkey's government was declared by the Treasury Undersecretariat to have seen a total of almost USD217 billion in its gross debt stock by the end of May this year.
The gross debt was found to have recorded an 18.8 percent year-on-year increase in May 2018, compared to about USD226 billion of debt stock generated during the same period last year.
Local currency has accounted for around USD126 billion, or 58 percent, of the debt, with foreign currency amounting to around USD91 billion of debt.
The undersecretariat said "local governments with the stock of 11.3 billion liras ($2.5 billion) hold the largest share of Treasury receivables."
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