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FinancialNews


  • 19-05-20

    Private sector in Turkey sees drop in foreign loans

    (MENAFN)

    The central bank of Turkey said on Monday that the foreign outstanding loans for the private sector saw a decline in March compared to the end of the earlier year.

    The long-term debts have set at a total of USD177.6 billion by March, representing a decline of USD3 billion since the end of 2019, as 42.2 percent was held by financial institutions.

    Around 61.8 percent of the private sector long-term debts were in United States dollars, and 33.5 of them were in in euros, as 3 percent were in in Turkish liras, and the remaining 1.7 percent was in other currencies.

    The short term loans debt of the private sector in Turkey which has to be paid in the upcoming 12 months saw a drop of USD1.2 billion to reach USD7.8 billion in the same period.

    Financial institutions took a total of 76.2 percent of the short-term loans, as 23.8 percent was made up of liabilities for non financial companies.

    The bank said that "regarding the currency composition of the total short-term loans, 43.2% consists of US dollars, 33.2% consists of euros, 22.9% consists of Turkish liras, and 0.7% consist of other currencies"

    MENAFN1905202000450000ID1100185441

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