The Turkish private sector's outstanding loans received from abroad fell in January, the Central Bank of the Republic of Turkey (CBRT) reported yesterday.
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," the bank said. "... 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 added. By the end of January, the principal repayments of private sector's total external loans were $63.8 billion for the next 12 months.