Turkey's Short-Term External Debt Falls By 2.4 Pct. In Q1

- Turkey's short-term external debt stock fell by 2.4 percent to 129.7 billion dollars in the first quarter of the year, due to lira depreciation at around 15 percent over the same period, according to data released by the Central Bank on Friday.

Banks’ short-term external debt stock fell by 0.7 percent to 95.2 billion dollars and other sectors’ short-term external debt stock fell by 6.7 percent to 34.2 billion dollars, over the same period.

Short-term FX loans of the banks received from abroad fell by 8.2 percent and FX deposits of non-residents within resident banks fell by 2.7 percent in comparison to the end of March, reaching to 44.2 billion dollars and 12.8 billion dollars, respectively.

Bank deposits recorded 25.3 billion dollars, reflecting an increase of 20.0 percent compared to the end of 2014 while non-residents’ Turkish lira deposits recorded 12.9 billion dollars indicating 4.1 percent decrease in comparison to the end of 2014.

Trade credits due to imports recorded under other sectors realized 25.6 billion dollars reflecting a decrease of 7.9 percent compared to the end of the previous year.

Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regardless of the original maturity, recorded 164.1 billion dollars.

An amount of 28.6 billion dollars of the above-mentioned stock indicates debt liabilities of the resident banks and private sectors to banks’ branches and affiliates abroad.

According to the classification by borrowers, it is observed that Public Sector accounts for 13.7 percent, Central Bank accounts for 0.7 percent and Private Sector accounts for 85.6 percent in total stock.