According to the statements of the Central Bank of the Republic of Turkey (CBRT), Turkey’s short-term external debt stock was recorded as 165.6 billion dollars as of the end of May. The mentioned figure indicates an increase of 11.1 percent compared to the end of 2022.
According to the data announced by the CBRT, the short-term external debt stock of banks increased by 4.3 percent to 64.9 billion dollars, while the short-term external debt of other sectors increased by 4.1 percent to 56.3 billion dollars.
Short-term loans used by banks from abroad increased by 5.6 percent compared to the end of 2022 and amounted to 11.3 billion dollars. The FX deposit account of non-bank foreign residents decreased by 4.8 percent to $20.6 billion, while the deposits of non-resident banks increased by 1.2 percent to $17.0 billion. In addition, deposits of foreign residents in Turkish lira increased by 22.1 percent compared to the end of last year and amounted to 16.1 billion dollars.
The short-term debts of other sectors, including import debts, increased by 3.5 percent compared to the end of 2022 and reached the level of 50.4 billion dollars.
When analyzed on a debtor basis, the short-term debt of the public sector increased by 12.9 percent to 32.6 billion dollars, and this debt was entirely composed of public banks. The short-term external debt of the private sector, on the other hand, increased by 1.3 percent to $88.6 billion.
When analyzed on a creditor basis, short-term debts to private creditors increased by 21.1 percent to $90.0 billion. Liabilities to non-monetary entities rose 0.5 percent to $74.4 billion. Short-term bond issuances, on the other hand, rose to $926 million as of the end of May 2023, increasing from $676 million at the end of 2022. In the same period, short-term debts to official creditors amounted to $298 million.
When the foreign currency composition of the short-term external debt stock as of the end of May 2023 is analyzed, it is seen that 47.5 percent is dollar, 24.7 percent is euro, 10.6 percent is Turkish lira and 17.2 percent is other currencies.
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