Türkiye’s short-term external debt increases to $183 billion

ANKARA

Türkiye's short-term external debt was at $182.5 billion as of the end of May, increasing by 3.6 percent from the end of 2023, the Central Bank data showed on Thursday.

Banks’ short-term external debt stock increased by 11.6 percent to $76.4 billion and other sectors’ debt stock increased by 0.1 percent to $61.4 billion.

Short-term foreign exchange (FX) loans of the banks received from abroad increased by 32.5 percent to $16.7 billion.

FX deposits of non-residents - except banking sector - within resident banks decreased by 6.8 percent in comparison to the end of 2023 recording $18.6 billion, and FX deposits of non-resident banks recorded $20.5 billion decreasing by 0.9 percent.

Trade credits due to imports under other sectors recorded $54.5 billion posting an increase of 0.4 percent compared to the end of 2023.

As of the end of May, the currency breakdown of short-term external debt stock composed of 49.5 percent U.S. dollars, 21.8 percent euro, 13.5 percent Turkish Lira and 15.2 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 the original maturity, recorded $235.3 billion, of which $22.4 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad.

From the borrowers’ side, the public sector accounted for 22.2 percent, the Central Bank accounted for 19 percent and the private sector accounted for 58.8 percent in total stock.