Turkey’s private sector's foreign debt hits USD165.7B in March

5/16/2024 4:55:22 AM

(MENAFN) As of March, the foreign debt held by the Turkish private sector reached a total of USD165.7 billion, reflecting an increase of USD1.7 billion compared to the end of 2023, according to official data released by the Turkish Central bank on Thursday. Within this figure, long-term loans accounted for USD155.3 billion, marking an uptick of USD452 million, while short-term debts amounted to USD10.4 billion, representing a rise of USD1.3 billion during the same period.

Breaking down the composition of these debts, approximately 58.5 percent of the long-term loans were denominated in US dollars, with Euro-denominated loans comprising 35.3 percent. Turkish lira and other currencies made up smaller proportions at 2.2 percent and 4 percent, respectively. Similarly, the distribution of short-term loans showed a dominance of the US dollar, accounting for 48 percent, followed by the Euro at 26.8 percent, Turkish lira at 20.5 percent, and other currencies at 4.7 percent.

An analysis based on the remaining maturity of these outstanding loans reveals that the Turkish private sector faces principal repayments totaling USD51.1 billion within the next 12 months, as of the end of March. This data provides insights into the financial obligations and potential liquidity requirements of Turkish businesses in the near term, amidst ongoing fluctuations in global financial markets and economic uncertainties.

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