Turkish private sector's foreign debt down to $162B in January

ISTANBUL

Turkish private sector's outstanding debt received from abroad was $162 billion in January, falling by $1.7 billion from the end of 2023, the Central Bank said on Friday.

Official figures showed that long-term loans totaled $152.7 billion, down $1.8 billion, while short-term loans amounted to $9.3 billion, increasing by $158 million over the same period.

The bank said 58.7% of long-term loans were in the US dollar, 35.5% in euro, 2.2% in Turkish lira and 3.6% in other currencies. Meanwhile, 42.7% of short-term loans were in the US dollar, 28.8% in euro, 22.7% in Turkish lira and 5.8% in other currencies.

Some 37.5% of long-term loans were received by financial institutions, and 62.5% by non-financial, while financial institutions took the lion share of short-term loans with 71%.