By Gokhan Ergocun
ANKARA (AA) – Turkish private sector's outstanding long-term loans from abroad dropped $36 million to reach at $221.7 billion as of June, versus the last year-end, according to the country’s central bank on Wednesday.
Meanwhile, the private sector's pending short-term loans from abroad climbed to $19.1 billion, up $486 million compared to the end of 2017.
By definition, short-term loans have an original maturity of one year or less while long-term loans have an original maturity of more than one year.
The bank said financial institutions constituted more than half of long-term loans — 50.1 percent.
“In the same period, of the total short-term loans in the amount of $19.1 billion, 79 percent consists of liabilities of the financial institutions, whereas 21 percent consists of liabilities of the non-financial institutions, ” the bank said.
Regarding currency composition, 59.7 percent of the total long-term loans were U.S. dollar loans, 34.4 percent consisted of euro, 4.3 percent were in Turkish lira and 1.6 percent from other currencies, it said.
“And of the total short-term loans in the amount of $19.1 billion, 44.4 percent consists of dollars, 34 percent consists of euro, 21.5 percent consists of Turkish lira and 0.1 percent consists of other currencies, ” it said.
The bank also noted that principal repayments for the next 12 months by the end of June amounted $69.6 billion.
The Central Bank periodically releases data for the private sector’s long and short-term loans from abroad by gathering details from credit based forms submitted by resident financial institutions and companies.
