Turkey’s gross external debt stock climbs over half of GDP for first time since 2003

ISTANBUL - Doğan News Agency

Turkey’s gross external debt stock reached $432.4 billion at the end of June 2017, the Treasury announced Sept. 29.

The country’s gross foreign debt stock therefore hit more than half of its gross domestic product, at 51.8 percent, for the first time since 2003.

The gross debt stock/GDP was 48.6 percent at the end of the first quarter of the year.

Turkey’s net external debt stock was announced as $283.1 billion at the end of second quarter.

The country’s net foreign debt accounted for almost 34 percent of GDP in this quarter, up from 31.5 percent in the previous quarter, the Treasury stated.

The net foreign debt stock figure, released on a quarterly basis, was at $266.7 billion at the end of the first quarter.

The Treasury also said the public net debt stock stood at 236.8 billion liras as of June 30, while EU-defined government debt stock was 797.6 billion lira in the same period.