Short-term external debt rose to 123.3 billion dollars end-May

Istanbul, July 17 (DHA) - Short-term external debt stock recorded 123.3 billion dollars at the end of May, with an increase of 4.8 percent since the beginning of the year.
Banks’ short-term external debt stock increased by 2.0 percent to 68.1 billion dollars whereas other sectors’ short-term external debt stock increased by 8.5 percent to 55.1 billion dollars, announced Turkish Central Bank.
According to Turkish Central Bank’s “Short-Term External Debt Statistics Developments - May 2018” data;
“Short-term foreign exchange loans of the banks received from abroad decreased by 3.0 percent to 16.6 billion dollars.
“Foreign exchange deposits of non-residents (except banking sector) within residents banks increased by 1.4 percent in the first five months, recording 19.9 billion dollars, and foreign exchange deposits of non-resident banks recorded 17.9 billion dollars, increasing by 5.8 percent.
“In addition, non-residents’ Turkish lira deposits increased by 4.3 percent and recorded 13.7 billion dollars.
“Commercial credits due to imports under other sectors recorded 43.5 billion dollars reflecting an increase of 7 percent in the first five months.
“From the borrowers side, the short-term debt of public sector, which mainly composed of public banks, increased by 8.1 percent to 23.9 billion dollars and the short-term debt of private sector increased by 4.0 percent to 99.3 billion dollars by the end of May.
“From the creditors side, short-term debt to monetary institutions under private creditors item increased by 3.8 percent to 53.6 billion dollars and short-term debt to non-monetary institutions increased by 5.1 percent to 68.1 billion dolllars.
“Short-term bond issues increased by 219.8 percent to 355 million dollars as of the end of May increasing from 111 million observed at the end of 2017.
“In the same period, short-term debt to official creditors recorded 1.3 billion dollars.
“As of end of May, the currency breakdown of short-term external debt stock composed of 50.9 percent dollar, 31.5 percent euro, 14.8 percent Turkish lira and 2.8 percent other currencies.
“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 180.6 billion dollars, of which 20.3 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad.
“From the borrowers side, public sector accounted for 17.1 percent, Central Bank accounted for 0.3 percent and private sector accounted 82.6 percent in total debt stock.”