The Turkish private sector’s short-term foreign debt – debt that must be paid in the next 12 months – rose to $19 billion as of February, up $1.4 billion from the end of December 2017, the country’s Central Bank announced Monday.
The sector’s long-term foreign debt also climbed $6.8 billion to $228 billion over the same period, the bank said.
Data showed financial institutions’ liabilities constituted 51 percent of the total long-term loans, while the liabilities of the non-financial institutions consisted 49 percent.
More than half of Turkey’s private sector long-term debt was in U.S. dollars, at 58.2 percent, with 35.1 percent in euros and 5 percent in Turkish liras.
Some 50.4 percent of short-term debt was in dollars, followed by 27.4 percent in euros, and 21.1 percent in Turkish liras.
“Regarding short-term loans, banks’ loan liabilities realized as $11.8 billion increasing by $255 million, whereas non-financial institutions’ loan liabilities realized as $4.4 billion, increasing by $1.2 billion in comparison to the end of 2017,” the Central Bank added.