Private sector's foreign debt decreased in December

As of the end of December, the total credit debt of the private sector from abroad decreased by $7.0 billion compared to the end of 2021, reaching $160.1 billion. The Central Bank of the Republic of Turkey published the December data on the developments in the credit debt of the private sector from abroad. Accordingly, the total credit debt of the private sector from abroad decreased by $7 billion compared to the end of 2021, reaching $162 billion. As of the end of December, the total credit debt of the private sector from abroad decreased by $7.0 billion compared to the end of 2021, reaching $160.1 billion. When examined by maturity, it was observed that long-term credit debt decreased by $8.7 billion compared to the end of 2021, reaching $151.5 billion, and short-term credit debt (excluding commercial loans) increased by $1.7 billion to $8.6 billion. Looking at the distribution by debtor, it was observed that with respect to long-term credit debt, banks’ borrowing in the form of loans decreased by USD 6.0 billion compared to the end of the previous year, while their borrowing in the form of bond issues decreased by USD 5.9 billion to USD 14.0 billion. 62 percent of the debt is dollar When looking at the foreign exchange composition, it was seen that of the long-term credit debt of USD 151.5 billion, 62.1 percent consists of dollar, 34.1 percent consists of euro, 1.8 percent consists of Turkish lira and 2 percent consists of other foreign currencies, while of the short-term credit debt of USD 8.6 billion, 38.8 percent consists of dollar, 36.2 percent consists of euro, 20.9 percent consists of Turkish lira and 4.1 percent consists of other foreign currencies. When sector distribution is examined, as of the end of December, of the total long-term credit debt of 151.5 billion dollars, 35.4 percent was debt of financial institutions and 64.6 percent was debt of non-financial institutions. In the same period, of the total short-term credit debt of 8.6 billion dollars, 74.9 percent was debt of financial institutions and 25.1 percent was debt of non-financial institutions. When the total credit debt of the private sector obtained from abroad is examined according to the remaining maturity as of the end of December, it is observed that the total principal repayments to be made within 1 year amount to 41.8 billion dollars.