Private sector's foreign credit decreased in March

The foreign long-term credit obtained by the private sector decreased by $1.7 billion from $167.4 billion to $166 billion when compared to the end of March last year. However, there was an increase of $1 billion when compared to the previous month.The Central Bank of the Republic of Turkey (CBRT) announced the figures for foreign long-term financing of the private sector for March. Accordingly, when the foreign currency composition is examined, out of the $166 overseas long-term foreign loans, 63.3 percent are in dollars, 29.7 percent in euros, 5.3 percent in Turkish lira and 1.7 percent in other currencies.

When the foreign short-term credit of the private sector was evaluated according to the sectors as of March, 47.5 percent of the total debt was obtained by non-financial institutions and equals $78.8 billion while 56.5 percent was obtained by the service sector, 43 percent by industrial sectors and 0.5 percent by the agriculture sector. The overseas short-term credit loans, excluding commercial loans, of the private sector as of the end of March 2015 decreased by $4.4 billion to $40 billion. When the foreign currency composition of short-term credit was examined, it was determined that 59.5 percent of the loans were in dollars, 31 percent in euros, 9.1 percent in Turkish lira and 0.4 percent in other currencies.