Turkey's gross external debt stock stood at $453.2 billion, more than half of its gross domestic product (GDP) - 53.3 percent - at the end of December 2017, the Treasury announced Friday.

According to the Treasury, Turkey's net foreign debt reached $291.2 billion as of Dec. 31, accounting for more than 34 percent of Turkey's GDP.

Loans under the guarantee of the Treasury Undersecretariat stood at $13.8 billion during the same period.

General government debt stock defined by the European Union was over $232 billion or 28.3 percent of GDP, at the end of December.