Turkey’s short-term external debt stock decreases 0.9 percent in February
Date
4/24/2024 8:20:07 AM
(MENAFN) On Wednesday, the Turkish Central bank revealed that Turkey’s short-term external debt stock stood at USD173.6 billion in February, marking a 0.9 percent decrease compared to the end of 2023.
Notably, there was a 2.2 percent increase in the short-term external debt of banks, reaching USD69.9 billion, while other sectors experienced a 4.5 percent decline in their debt, totaling USD57.7 billion.
Additionally, the short-term foreign exchange loans of banks witnessed a notable uptick, rising by 10.9 percent to USD13.9 billion.
"From the borrowers' side, the short-term debt of the public sector, which consists of public banks, increased by 5.5 percent to USD 36.4 billion and the short-term debt of the private sector decreased by 3.3 percent to USD 91.2 billion," the bank stated.
At the conclusion of February, the currency composition of the short-term external debt stock comprised 51 percent US dollars, 22.2 percent euro, 10.8 percent Turkish lira, and 16 percent other currencies.
"Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regarding of the original maturity, recorded USD 227.5 billion, of which USD 19.1 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad," the bank further mentioned.
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