Short-term external debt stock in Turkey increased by 10.2% to USD 125.6bn as of the end of December 2021 as compared to the end of 2020, according to the Central Bank.
The Central Bank said the banks’ short-term external debt stock surged by 9.7% to USD 51.8bn in this period.
The bank also added that the short-term debt of other sectors jumped 35.1% to USD 47.8bn in the same period.
The short-term debt of the public sector, consisting primarily of public banks, fell by 10.4% to USD 22.3bn at the end of December 2021, while the private sector’s short-term debt rose by 14.0% to USD 77.3bn at the end of December 2021, compared to the end of 2020.
“Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regarding of the original maturity, recorded USD 171.6bn, of which USD 15.7bn belongs to resident banks and private sectors to the banks’ branches and affiliates abroad,” the statement read.
“From the borrowers’ side, the public sector accounted for 19.6%, the Central Bank accounted for 15.2% and the private sector accounted for 65.2% of total stock,” the Central Bank noted.