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Turkey's foreign debt hits a new record

2022-05-25T09:29:45.669Z

ANKARA, SANA- Official data issued by the Turkish Central Bank revealed that the balance of short-term foreign debt in the country is...



Ankara-Sana

Official data issued by the Turkish Central Bank revealed that the balance of short-term external debt in the country has set a new record, reaching more than 132 billion dollars.

According to bank data reported by the Turkish newspaper Zaman, the balance of short-term foreign debt rose by 9.9% at the end of last March, compared to the end of 2021, to reach 132.3 billion dollars.

The balance of short-term external debt, calculated using external debt data with a maturity of one year or less, amounted to $181.4 billion.

The data indicated that the short-term debt of the public sector, which consists entirely of state banks, increased at the end of March by 14.6 percent compared to the end of 2021 and amounted to $25.5 billion, while the short-term external debt of the private sector increased by 6.8 percent to reach $77 billion.

The Turkish economy is suffering from escalating crises due to the policies pursued by the regime of President Recep Tayyip Erdogan.

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Source: sena

All business articles on 2022-05-25

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