Turkey's short-term external debt stock saw an annual fall of 2.9 percent in December, official data revealed Wednesday.
Maturing within one year or less, Turkey's external debt stock totaled $116.2 billion, the Central Bank of the Republic of Turkey (CBRT) announced. "As of the end of December, the currency breakdown of short-term external debt stock composed of 50 percent U.S. dollars, 29.7 percent euros, 14.9 percent Turkish liras and 5.4 percent other currencies," the bank said.
According to official figures, the banking sector's short-term external debt stock went down 15.3 percent to $56.9 billion and other sectors saw a climb of 5.2 percent to $53.4 billion for it. The rest of the short-term external debt stock - around $5.9 billion - belonged to the CBRT.
The short-term debt of the public sector, which consists of public banks, increased by 1.7 percent to $22.5 billion, the bank said. "... And the short-term debt of the private sector decreased by 8.4 percent to $87.8 billion compared to the end of 2017," it added.
It also noted that short-term foreign exchange (FX) loans of the banks received from abroad dropped 37.3 percent to $11 billion. "FX deposits of non-residents (except banking sector) within resident banks fell 3.8 percent over the same period, recording $18.8 billion," the data showed. Official figures also revealed that FX deposits of non-resident banks amounted to $13 billion with a 23.2-percent decline, while non-residents' Turkish lira deposits surged 7 percent to $14 billion.