Turkey: Government gross debt stock totals nearly $197B

By Muhammed Ali Gurtas

ANKARA (AA) – Turkey's central government gross debt stock amounted to 1.08 trillion Turkish liras (around $197 billion) as of October, according to the Treasury on Tuesday.

Treasury and Finance Ministry reported that the figure posted a 24.8 percent annual hike.

The gross debt stock includes the outstanding debt of public sector institutions, the Central Bank, private companies, and households.

The Treasury said 54.4 percent of the debt stock is denominated in local currency, Turkish lira, while the rest is in foreign currency.

Official figures also showed that the stock of Treasury receivables totaled 19 billion Turkish liras (nearly $3.45 billion) as of Oct. 31.

The Turkish government’s gross debt stock was 876.5 billion Turkish liras (some $232 billion) at the end of last year.

The U.S. dollar/Turkish lira rate was 5.51 as of end of October, up from 3.78 at the end of 2017.