By Muhammed Ali Gurtas
ANKARA (AA) – Turkish private sector's outstanding loans received from abroad fell in January, the country’s Central Bank (CBRT) reported Thursday.
Excluding trade credits, private sector's short-term loans totaled $13.8 billion, going down $1.5 billion from the end of 2018.
Official figures revealed that financial institutions possessed 71.6 percent of the total short-term loans.
On the long-term side, the amount was $210.1 billion as of January, marking a $414 million decline compared with December 2018.
The CBRT noted that 48.8 percent of the external long-term loans consists of liabilities of the financial institutions.
“Regarding the currency composition, of the total long-term loans in the amount of $210.1 billion, 59.6 percent consists of U.S. dollar, 34.7 percent consists of euro, 4.3 percent consists of Turkish lira and 1.4 percent consists of other currencies
“… And of the total short-term loans in the amount of $13.8 billion, 41.3 percent consists of U.S. dollar, 34.1 percent consists of euro, 24.2 percent consists of Turkish lira and 0.4 percent consists of other currencies, ” it said.
By the end of January, principal repayments of the private sector’s total external loans was $63.8 billion for the next 12 months.
