Economy

Turkey: Short-term external debt stock reaches $114.3B

August figure drops 3.6 pct since end of 2017, official data reveals

17.10.2018
Turkey: Short-term external debt stock reaches $114.3B

By Jeyhun Aliyev

ANKARA

Turkey's short-term external debt stock -- debt that must be paid in the next 12 months -- reached $114.3 billion in August, down 3.6 percent from the end of 2017, the Turkish Central Bank said on Wednesday.

Short-term external debt stock decreased 7.4 percent to $62.3 billion while other sectors’ short-term external debt stock fell by 0.4 percent to $50.6 billion during the same period, the bank said in a statement.

"From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 1.8 percent to $22.5 billion and the short-term debt of private sector decreased by 5.8 percent to $90.3 billion compared to the end of 2017," it said.

More than half of the country's short-term external debt stock was in dollars -- 52.6 percent -- followed by 33.2 percent in euros, 11.5 percent in Turkish liras, and 2.7 percent in other currencies.

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