The Central Bank of the Republic of Turkey (CBRT) has issued developments regarding credit debts that the private sector borrowed from foreign countries for December 2016.
Accordingly, the long-term borrowing of the private sector from abroad reached $202.7 billion with an increase of $8.3 billion compared to the end of 2015, while its short-term borrowing (with the exception of commercial loans) decreased to $14.3 billion with a fall of $6.1 billion.
In terms of long-term credit debts, banks' borrowing in the form of loans decreased by $803 million in December 2016 compared to the end of the previous year, while borrowing in the form of bond issuance increased by $2.1 billion to $24.3 billion. In the same period, borrowing by non-bank financial institutions in the form of loans decreased by $1.4 billion, while bond stocks increased by $1.2 billion to $4.6 billion. In the same period, non-financial institutions' borrowing in the form of loans increased by $5.6 billion and bond stocks amounted to $5.7 billion.
In terms of short-term borrowing, banks' borrowing in the form of loans decreased by $4.5 billion to $10.3 billion when compared to the end of 2015, while borrowing by non-financial institutions in the form of loans increased by $325 million to $2.2 billion.
When distribution by creditors is taken into consideration, debts to private lenders with the exception of bonds in the long-term credit debts reached $148 billion, with a $4.4 billion rise when compared to the end of 2015. With respect to short-term credit debt, debts to private lenders other than bonds decreased by $4.7 billion compared to the end of the previous year and amounted to $14 billion. As far as foreign currency composition goes, 61.2 percent of the long-term borrowing of a total of $202.7 billion was made in dollars, 32.7 percent in euros, 4.2 percent in Turkish lira and 1.9 percent in other currencies.
On the other hand, 47.9 percent of the short-term borrowing amounting to $14.3 billion was made in dollars, 33.9 percent in euros, 18 percent in Turkish lira and 0.2 percent in other currencies.
