Economy

Turkish government’s gross debt stock totals $202.5B

In 2018, central government's gross debt stock surges 21.7 percent year-on-year, according to Treasury

21.01.2019
Turkish government’s gross debt stock totals $202.5B

By Muhammed Ali Gurtas

ANKARA

The central government’s gross debt stock of Turkey totaled 1.07 trillion Turkish liras ($202.5 billion) as of end of 2018, the Treasury and Finance Ministry reported on Monday.

The Treasury figures revealed that the debt stock surged 21.7 percent year-on-year.

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

According to the Treasury, 45.5 percent of the debt stock is denominated in foreign currencies, while the rest is in local currency, Turkish lira.

Official figures showed that nearly 55 percent of the stock consists of domestic debt, while the amount of external debt stock is around 480 billion Turkish liras ($91.2 billion).

As of end of 2018, the Treasury receivables stock was 18.5 billion Turkish liras ($3.5 billion).

The Turkish government’s gross debt stock was 876.5 billion Turkish liras (some $232 billion) at the end of 2017.

The U.S. dollar/Turkish lira rate was 5.27 at the end of 2018, up from around 3.80 at the end of 2017.

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