Short-term external debt at $174 billion

ANKARA

Türkiye’s short-term external debt stock stood at $174.4 billion at the end of December, indicating an increase of 17.2 percent compared to the end of 2022, the Central Bank has said.

In this period, banks’ short-term external debt stock increased by 10.1 percent to $68.4 billion, and other sectors’ short-term external debt stock rose by 10.8 percent to $59.6 billion, the official data showed on Feb. 19.

FX deposits of non-residents - except the banking sector - within resident banks decreased by 7.4 percent compared to the end of 2022, recording $20 billion, while FX deposits of non-resident banks recorded $20.7 billion, increasing by 23.2 percent.

Non-residents’ Turkish Lira deposits increased by 15.2 percent to $15.1 billion at the end of last year.

“From the borrowers’ side, the short-term debt of the public sector, which consists of public banks, rose by 19.3 percent to $34.5 billion, and the short-term debt of the private sector increased by 7.5 percent to $93.6 billion compared to the end of 2022,” the Central Bank said.

As of the end of December, the currency breakdown of short-term external debt stock constitutes 50.3 percent U.S. dollars, 23.3 percent euro, 10 percent lira and 16.4 percent other currencies.

“Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within one year or less regarding of the original maturity, recorded $226.6 billion, of which $18.5 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad,” the Central Bank said.