16 July 2018•Update: 16 July 2018
By Muhammed Ali Gurtas
ANKARA
The Turkish private sector’s outstanding loans received from abroad declined in May compared to the previous month, the Turkish Central Bank (CBRT) reported on Monday.
Private sector’s short-term loans -- excluding trade credits -- amounted to $19.7 billion as of May, down some $500 million from the end of April, the bank said.
Official figures showed that long-term loans totaled $222.8 billion as of May, falling nearly $2.5 billion month-on-month.
The CBRT noted that short-term loans recorded an increase of $1.6 billion compared to the end of 2017 while long-term loans rose $726 million in the same period.
"As for the sectoral breakdown by the end of May, of the total long-term loans in the amount of $222.8 billion, 50.8 percent consists of liabilities of the financial institutions, whereas 49.2 percent consists of the liabilities of the non-financial institutions," it said.
"In the same period, of the total short-term loans in the amount of $19.7 billion, 75.4 percent consists of liabilities of the financial institutions, whereas 24.6 percent consists of liabilities of the non-financial institutions," the CBRT added.
Pointing at the currency composition, the bank stated that 60 percent of the long-term loans consists of U.S. dollar, 34 percent of euro, 4.3 percent consists of Turkish lira and 1.7 percent of other currencies.
"Private sector’s total outstanding loans received from abroad based on a remaining maturity basis point out to principal repayments in the amount of $69.5 billion for the next 12 months by the end of May," the CBRT noted.
