Economy

Turkish private sector's loans from abroad down in Aug.

Central Bank says long-term loans down to $219.4B while short-term loans totaled $17B as of August compared to end of 2017

16.10.2018
Turkish private sector's loans from abroad down in Aug.

By Muhammed Ali Gurtas

ANKARA 

The Turkish outstanding private sector loans received from abroad fell in August compared to the end of 2017, the Central Bank announced Tuesday.

Excluding trade credits, private sector's short-term loans totaled $17 billion, marking a $1.6 billion decline from the end of last year, as 77.8 percent consists of liabilities of the financial institutions, according to the Central Bank of the Republic of Turkey (CBRT).

As of August, long-term loans amounted to $219.4 billion, going down $2.4 billion over the same period, while non-financial institutions' share was 50.5 percent.

"Regarding the currency composition, of the total long-term loans in the amount of $219.4 billion, 60.2 percent consists of U.S. dollar, 34.9 percent consists of euro, 3.2 percent consists of Turkish lira and 1.7 percent consists of other currencies,” CBRT said, adding:

"And of the total short-term loans in the amount of $17.0 billion, 49.5 percent consists of U.S. dollar, 33.4 percent consists of euro, 17.0 percent consists of Turkish lira and 0.1 percent consists of other currencies.”

The bank also said that principal repayments of the private sector’s total outstanding loans received from abroad amounted to $68.7 billion for the next 12 months.

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.