ISTANBUL

Turkish private sector loans reached $175.7 billion as of November 2024, down $14.03 billion from the end of 2023 and $797 million from the previous month, Türkiye’s Central Bank said on Thursday.

Long-term loans amounted to $160 billion, a decrease of $1.6 billion, while short-term loans were at $15.7 billion, up by $780 million, the bank said.

The US dollar makes up 59.2% of the $160 billion in total long-term loans, followed by the euro with 33.3%, the Turkish lira with 2.6%, and other currencies with 4.9%.

In the short-term loans, the US dollar made up 40.6%, the euro 16.3% the Turkish lira 39.3%, and other currencies 3.8%.

"The private sector’s total outstanding loans received from abroad with a remaining maturity of up to one year point to principal repayments of $52.7 billion by the end of November," the central bank added.