The private sector’s outstanding external loans dropped by USD 305m to USD 168.6bn in January, compared to the previous month, according to the Central Bank.
Excluding trade credits, the sector’s short-term loans received from abroad hit USD 7.4bn, decreasing by USD 76m in comparison to the end of 2021.
The liabilities of financial institutions constituted 82.7% of all short-term loans whereas 17.3% consists of liabilities of the non-financial institutions.
Broken down by currency, a major chunk of Turkey’s short-term credit, 40.3% consists of USD, 35.1% of EUR, 19.7% of TRY and 4.9% consist of other currencies.
The central bank data showed the long-term debts of the sector during the same period also slipped by USD 229m to USD 161.2bn.
Some 39.9% of the total long-term foreign loans were owed by financial institutions.
Most of the long-term loans, 63.5%, were in USD followed by EUR (33%) and TRY (1.6%).