Turkish private sector loans from abroad down in September, data shows

ISTANBUL - Anadolu Agency

The Turkish outstanding private sector loans received from abroad fell in September compared to the end of 2017, the Central Bank announced on Nov. 15.

Excluding trade credits, the private sector’s short-term loans totaled $16.5 billion, marking a $2 billion decline from the end of last year, as 76.4 percent consists of liabilities of financial institutions, according to the Central Bank of the Republic of Turkey (CBRT).

As of September, long-term loans amounted to $216.6 billion, going down $5.3 billion over the same period, while non-financial institutions’ share was 51.4 percent.

“Regarding the currency composition, of total long-term loans in the amount of $216.6 billion, 60.3 percent consists of the United States dollar, 34.7 percent consists of the euro, 3.4 percent consists of the Turkish Lira and 1.6 percent consists of other currencies,” the bank said.

“Of the total short-term loans in the amount of $16.5 billion, 46.5 percent consists of the U.S. dollar, 34.1 percent consists of the euro, 19.3 percent consists of the Turkish Lira and 0.1 percent consists of other currencies,” it added.

The bank also said principal repayments of the private sector’s total outstanding loans received from abroad amounted to $66.3 billion for the next 12 months.