By Tuba Sahin
ANKARA (AA) – The Turkish private sector’s outstanding loans received from abroad slipped in February from the end of 2018, the Central Bank of Turkey announced Tuesday.
The sector's long-term debts reached to $209.5 billion as of February, down $763 million from the end of last year, the bank said in a statement.
Excluding trade credits, sector's short-term loans — debt that must be paid in the next 12 months — went down $2.3 billion to $13.1 billion during the same period.
Financial institutions constituted 72.9% of the short term loans, the report showed.
"As for the sectoral breakdown by the end of February, of the total long-term loans in the amount of $209.5 billion, 48.7% consists of liabilities of the financial institutions, whereas 51.3% consists of the liabilities of the non-financial institutions," it said.
Nearly 60 percent of Turkey's private sector long-term debt was in U.S. dollars, with 34.4 percent in euros, 4.4 percent in Turkish liras, and 1.4 percent in other currencies.
