Turkey: Central government gross debt stock at $208B

ANKARA

Turkey’s central government’s gross debt stock amounted to 1.22 trillion Turkish liras (around $208 billion) as of May this year, according to an official report on Thursday.

The country's Treasury and Finance Ministry said the figure was up 27.3% on a yearly basis.

The gross debt stock includes the outstanding debt of public sector institutions, the Central Bank, private companies, and households.

The report said 49.2% of the debt stock is denominated in the local currency while the rest is in foreign currency.

Meanwhile, the stock of Treasury receivables stood at 18.7 billion Turkish liras (some $3.18 billion) as of May 31.

As of the end of 2018, the Turkish government’s gross debt stock amounted to 1.07 trillion Turkish liras ($202.5 billion).

The U.S. dollar/Turkish lira rate was 5.87 as of end-May, up from 4.04 at the end of last year.