By Tuba Sahin
ANKARA (AA) – Turkish private sector's outstanding long-term loans from abroad rose $3.6 billion to reach at $225.1 billion as of April, according to the Central Bank on Wednesday.
The private sector's pending short-term loans from abroad also climbed to $20.1 billion, up $1.8 billion 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 — 50.7 percent.
“In the same period, of the total short-term loans in the amount of $20.1 billion, 76.0 percent consists of liabilities of the financial institutions, whereas 24.0 percent consists of liabilities of the non-financial institutions, ” the bank said.
Regarding currency composition, 59 percent of the total long-term loans were U.S. dollar loans, 34.6 percent consisted of euro, 4.7 percent were in Turkish lira and 1.7 percent from other currencies, it said.
“And of the total short-term loans, 45.2 percent consists of dollars, 31.0 percent consists of euro, 23.7 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 April amounted $70.3 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.
