Turkey's short-term external debt increased last year

ANKARA

Turkey's short-term external debt rose by 2 percent at the end of 2014 from December last year, the country's central bank said on Monday.

Short-term external debt, defined as debt that has an original maturity of one year or less, increased to $133 billion over the same period.

For short-term external debt, 52.1 percent was in dollars, with 39.3 percent in euros and 8.2 percent in Turkish lira.

The bank’s data shows that the short-term debt of the public sector, meaning that of public banks, increased by 1.5 percent to $17.9 billion and the short-term debt of private sector increased by 2.5 percent to $114.8 billion.

Short-term Forex loans of the banks received from abroad increased by 9.0 percent and Forex deposits of non-residents within resident banks increased by 14.1 percent in comparison to the end of 2013, reaching to $48.3 billion and $13.1 billion, respectively.

There is concern, among economists, that the declining value of the lira against the dollar may make servicing dollar debt challenging for Turkish businesses.

ANKARA

Turkey's short-term external debt rose by 2 percent at the end of 2014 from December last year, the country's central bank said on Monday.

Short-term external debt, defined as debt that has an original maturity of one year or less, increased to $133 billion over the same period.

For short-term external debt, 52.1 percent was in dollars, with 39.3 percent in euros and 8.2 percent in Turkish lira.

There is concern, among economists, that the declining value of the lira against the dollar may make servicing dollar debt challenging for Turkish businesses.